KREC
Level 3

Retirement tax questions

The 2018 contribution was $2243. $133 was allowed and so I had an overcontribution of $2110. In 2018 I paid the 6% excise tax on the 5329. In 2019 I absorbed $450 paid the 6% again and so

now the overcontribution was reduced to $1660. In 2020

no contribution was allowed so I was hit with and paid 6%. I am now removing the excess contribution in 2021, I assume I only need to

remove the $1660

since portions of the original overcontribution were absorbed.