You take it back by requesting a -- return of excess contribution:
before tax filing date including extension: positive earnings allocable to the excess are included in income on 1040 Line 4b for the year of the contribution. negative earnings are ignored; in any case, for purposes of basis, consider the original requested amount as returned.
For a Roth IRA, the taxable amount is found on Form 8606 Line 25c.
You must have a) filed by tax day, or b) requested an extension of time to file by tax day to take advantage of the Oct 15 deadline.
positive earnings removed are no longer penalized 10% if you are under age 59 1/2. (eliminated in 2023)
@mgc6288
