Deductions & credits

don't do the withdrawal on your own. contact the trustrtee and tell them you have made an excess contribution of $60 which you want to be removed. this is important so that the trustee sends properly coded tax forms to the iRS.  if not you could face a 6% excess contribution penalty and a 20% penalty for a non-qualified withdrawal

 

 

 

 

your other option is to leave the money in pay the 6% penalty and then undercontribute by $60 in 2023