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ROTH IRA Excess Contribution
In the year 2020, I contributed too much to my ROTH IRA. I went to my brokerage to get it fixed. They were able to remove the excess along with the earnings and add them to my contributions for the following year. I have a couple of questions.
a) When I file my taxes, do I report the amount I contributed INCLUDING the excess or do I report the new fixed amount that EXCLUDES the excess contribution?
b) Do I need to report my earnings from the excess even though there were simply carried into the next year?
c) What fees do I have to worry about?
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March 7, 2021
12:10 AM