I mistakenly contributed an excess $1000 to my Traditional IRA in April 2025 prior to filing my 2024 taxes. Prior to this mistake, I had already contributed the maximum amount in 2024 of $7000 to my Roth IRA. The excess contribution was supposed to be a contribution to 2025 tax year but somehow got filed as a 2024 contribution. So in reality, I ended up contributing $8000 ($1000 Traditional + $7000 Roth) for 2024. To further the issue, I already contributed $7000 (maximum amount) to my IRAs for 2025.
How do I rectify this problem? Essentially, I'd like to withdraw the $1000 but I don't think I can do that because it was for 2024 and I already filed my taxes. Can someone help? Do I need to amend my 2024 taxes? Any help would be great. Thank you.
