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 .