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Retirement tax questions
Thank you for your prompt response. Great news, I thought I'd still have to pay the 2021 6% Fee on the old 3,000 excess, but it makes sense that if I'm allowed to do an absorption in 2021 then I'll only have the new 6,000 excess in 2021.
Once I remove the 6K excess for 2021, then when I file my 2021 taxes in Turbotax. Do I still have to say that I made a contribution in 2021? or should I say I didn't do any contribution since I removed it before filing 2021 taxes?
If I say that I contributed 6,000 in 2021 then it will say that I have a 6,000 excess after the absorption. I am guessing it'll ask me after if I already removed it so I won't have to pay the 6% fee?
March 11, 2022
1:40 PM