If the earning is not removed by April 15 (I can check the balance of the account), it is safer to extend my filing deadline from April to Oct ? That leaves me more time to remove the earnings.
For the 2023 5329 form,
5329 form for 2023. I should enter both line 20, 21 and line 23 as $0 because there is no excess contribution for year 2023, is that right?
line 18: 3000 ( those are carryover from 2020, 2021, 2022)
line 20: 0 ( we contribute $1000 for 2023, but removed it in April 2024. A little bit confuse. )
line 21: 0 (add line 19 and line 20)
line 22: 3000 ( line 18 minus line 21)
line 23: 0 ( excess contribution for 2023)
line 24: 3000
line 25: 180 ( 6% x 3000 penalty)
