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Retirement tax questions
"I requested the withdrawal of excess contributions "
This is the wrong action. Custodian should have refused it.
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after tax due date including extensions: you distribute the excess amount being carried forward on 5329,
(or offset it with currently allowed contribution) .
Earnings stay in the Roth account.
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Taking out an additional $600 was also an error.
you now have an early distribution from your Roth IRA.
It may be non-taxable if you still have basis in Roth contributions or conversions.
Yout are not answering the questions correctly about what you did or tried to do.
March 21, 2024
5:15 AM