- Ineligible Roth IRA contribution in 2020.
- Have not finished filing yet and already requested a 'return of excess' from financial institution including earnings.
- I believe I now do not have to pay 6% penalty on excess contribution but seems a 10% fee on the earnings may apply?
Q: how do I report this on my filing in Turbotax? If I should report the earnings as income, how/where do I do that? Also, my earnings are from stock capital gains - do I need to pay capital gains tax as well? If so, for year 2020 or 2021?
Thanks...
