@Rick19744
Hi Rick, you are extremely knowledgeable and helpful!! I want to ask a question not related to the S Corp. Maybe you have an answer or could tag someone who does.
2021 Roth IRA excess contribution. Not reflected on the 2021 taxes. The excess contributions and earnings have not been withdrawn yet. Will be done this year. Too late to recharacterize. My question is - I am getting contradicting information about how to handle it. Some say that you need to amend 2021 to reflect the penalty and the earnings. Some say do not amend since a 1099-R will be issued with her withdrawals then you reconcile it on 2023 tax returns? I can't find any official guidelines on this either.
