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Retirement tax questions
return of excess contribution:
before tax filing date including extension: positive earnings allocable to the excess are taxable on the Line 4b for the year of the contribution. negative earnings are ignored; in which case, for purposes of basis, consider the original requested amount as returned.
-- if you want to avoid amending 2023 next year, you would report the $8.46 on your tax return now
@jtwk .
March 3, 2024
11:42 AM