In the case where you missed the deadline for removing the excess contribution and you elect to take a non-qualified distribution off the excess the following year (taxed at 20)% - do you also have to file an amended return for the year the excess contribution was made?
I am wondering because the (excess) contribution would lower MAGI for that tax year which might yield a tax savings over the 20% tax on the excess contribution withdrawal the following year. However, if an amended return is required, then that would eliminate that advantage.
