Yes, entered everything correctly.
Yes, next year you will no longer have a penalty because you removed the 2020 excess before December 31, 2022. Did you request just a regular distribution without earnings since it was after the due date of the 2020 tax return?
Yes, when you enter your 2022 Form 1099-R then it will cancel out the excess contribution in 2022.
You will have to mail the amended 2020 tax return, but you can e-file your 2021 tax return.
@CoachKristine
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