dmertz
Level 15

Retirement tax questions

vcwu, I agree that that would be a reasonable approach.  I've done the same in the past for the same reason.

 

Your 2021 tax return will include 2021 Form 5329 to report that the $7,000 excess contribution for 2020 has resolved by applying the $7,000 as your 2021 Roth IRA contribution.