Please bear with me as I am trying to understand the problem and the potential solution the best I can. I have read your post of 05-10-2024 8:10 PM. I am working with an after-tax deadline (oct 15, 2023) situation (the second case). I will be paying 6% penalty by amending 2022 return (correct?). I'm doing that presently. However, my confusion is related to when I amend 2023 return later this year (but before Oct 15, 2024). Am I paying 6% again with "2023 amendment" also or penalty paid with "2022 amendment" is the only time I pay the penalty? From your response mentioned above, it appears that I am done with penalties after amending 2022 return. I believe it to be the case as well.
So, in case if I am not paying the penalty again with 2023 amendment, my taxes for 2023 are not affected at all as you say 10% penalty is not there anymore, and my gains on the 2023 contributions removed are offset by my carry over losses. So if there is no change and I am not paying additional penalties, do I still have amend 2023 return. In such case, would it make sense to wait for 1099-R (with P designations) until next year. I will wait for your response. Thanks for your time and patience.
