In amending our 2019 return, I found that my husband (age 57) made an excess contribution of $3164 to his traditional IRA. Turbotax suggests in order to avoid paying a penalty, to withdraw the excess contribution from his IRA before the filing deadline, which was last year. He hasn't contributed anything to his IRA in 2020 - is it possible to apply the excess contribution to 2020, or do we need to withdraw the excess + money earned on it asap? Is there a simple way to resolve this?
Thanks in advance for any help/advice!
