Thanks very much for your help, Opus 17! It's very clear and concise, versus everything else I have found online on this type of scenario so far. So if I understand correctly in step #4, there is also a penalty in 2023 for the combined 2021-22 excess, same as the penalty in 2022...
Is it correct that form 5329 will be used with all 3 filings then, and a 4th and final form 5329 with the 2024 filing?
Also, I noticed that the 2023 TT will not do an amended return for 2021, but only back to 2022. I have the previous years' software installations though and will try those.
