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Retirement tax questions
You will deal with the excess contribution on your 2020 return, either now, while you're preparing the original return or on an amended 2020 return next year when you get the 1099-R
You need to prepare Form 5329 and include it in your 2020 return because the contributions for 2020 to your Roth IRAs exceeded your maximum contribution limit.
Be sure to withdraw the excess contribution and the earnings.
‎February 19, 2021
12:27 PM