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Retirement tax questions
I also have a similar case.
I have an Excess Traditional IRA Contribution from 2021
Form 5329 2022 like 17 shows the same amount of tax that I paid last year.
Do I have to ask my Financial Institution to withdraw my 2021 $7000 Traditional IRA Contribution, so that it will stop the 6% tax on line 17?
Then if I want to contribute $7000 for 2022, does that mean a separate transaction at my Financial Institution?
‎April 3, 2023
9:39 PM