Married filing jointly - I am 50 years old and contributed $7,000 to my Roth IRA in March 2021 for the 2021 tax year. My wife went back to work in the fall, and that additional income (total AGI of 201,461) pushed us over the minimum (but not the max) limit for IRA contributions - (198K - 208K for married filing jointly). I contacted my broker and had them remove the excess ($2422), and they calculated $252.16 in earnings on the excess. They are not giving me a 1099-R, but if I plug these numbers into Turbo Tax it now calculates our AGI as 201,713 (the original + $252 in earnings), which would now put me about $2600 over the allowed contribution, and Turbo Tax is warning me about that excess and saying I need to pay the penalty.
If I contact my broker again and have them pull out another $180, then they will calculate earnings on *that*, and that will adjust my AGI still further, and so on, with each earnings amount getting smaller until it drops below a dollar.
How do calculate my AGI against earnings without removing the entire $7K to make sure that I am absolutely not over the limit?
