The steps in the reply worked perfectly! Thanks!
Follow Up Question,,,,,,
Rounding off numbers for simplicity.
Contributed 7000 in May 13, 2020-withdrew excess of 7000 plus earnings of 3000 =$10000 on April 20, 2021: $3000 taxable. [tax day extended to May 17 for 2021]
While entering answers to TT questions, showed I would owe extra tax bill of $300 (10%). Is this a penalty? I thought I was withdrawing in time to avoid any penalty. At completion- I owe $300 + $700 federal+125 to state =$1125 tax on $3000. A 38% tax! Brutal! Does this all sound correct?
