cptt21
Returning Member

Excess Roth Contribution; reporting and deductibility

I made a $7k Roth Contribution for my wife (61 years old) on 12/5/22 for 2022. Her income was too high so I withdrew it ($6700) on 3/22/23.

1. Do I have to report this contribution on 2023 taxes? (I think not)

2. Can I claim the resulting $300 or so loss?

 

Thanks