Okay, thank you for the clarification.
How do I go about doing this:
Anything contributed in excess of that is an excess contribution that must be removed as a "return of contribution" before the due date of the tax return to avoid a penalty.
I know I will have to remove 6000-(the amount I contributed). I assume I will also have to remove the earnings on that amount - how should I calculate that?
And do I have to report this on my taxes? I filed my tax return back in March 2020. But I opened the Roth IRA account and made the contribution for 2019 in April 2020. So I'm not sure if I need to file an amended return or leave everything as is.
I know I'll have to claim the excess earnings as income - can I just do that in 2020 to make things easier and avoid having to file an amended return?
