It is well past April 15, hopefully, some of the experts are still looking at this community.
To summarize, I am 64 and my wife is 65. We both made excess Roth IRA contributions of $7000 in 2020 and 2021. We did not realize that our MAGI was over the limit until March of 2023. In April we withdrew the combined contributions of $28,000.
I have prepared amended returns for 2020 and 2021. For the return for 2020, we will be paying $840, and for the return for 2021, we will be paying $1680.
Does that sound correct so far? Also when sending in the amended returns for 2020 and 2021 do I need to include Schedule 1, Schedule C, Schedule SE, and Form 8995 since the numbers on these forms are not affected by the excess IRA contributions?
As for my 2022 return what additional forms should that return include? We also made excess Roth contributions for 2022 but we withdrew the contributions (less the loss attributable to those contributions) in April 2023.
Since my wife just retired our MAGI for 2023 will allow for our Roth contributions!
Thanks for all your help.
@DanaB27
