Hi,
In my Roth IRA, I made some excess contributions.
2016, 2017 - Within the limits.
2018 - Excess of $750
2019 - Didn't contributed at all.
2020 - Excess of $2500
I realized the mistake when filing 2020 taxes (in 2021). Now I have to fix both 2018 and 2020.
Fixing 2020 is fairly easy as I have time until October 15th, 2020, I can do recharacterization or carry forward to next year. In either case, I can even avoid 6% excise tax and 10% withdrawal penalty (before 59.5 years old).
But how do I fix the 2018 one? Technically, the excess of 2018 can be moved to 2019 contribution limit. Do I need to file Form 5329? Do I need to recharacterize 2018 contribution + earning also?
