- Mark as New
- Bookmark
- Subscribe
- Subscribe to RSS Feed
- Permalink
- Report Inappropriate Content
I should pay no tax on excess contributions if I didn't really contribute, right?
I don't think I should be paying 6% additional tax because the excess contributions were a mistake I immediately did a corrective disbursement to reverse. How do I get that represented on my return?
I made a $7700 Roth contribution and a $300 trad IRA contribution earlier this month for 2024, then reversed both. I already got help creating a 1099-R form and manually entering the corrections: (https://ttlc.intuit.com/community/tax-credits-deductions/... )
Topics:
March 28, 2025
10:40 AM