Yes, you can request another withdrawal of excess contributions plus earnings. You should withdraw more than the excess contribution since you are in the phaseout range to avoid creating a new excess contribution when the earnings are added to your MAGI.
Yes, if you are allowed to make Roth IRA contributions for 2024 then you can pay the 6% penalty for 2023 and apply the excess to 2024. This is done on your 2024 tax return and does not involve your financial institution.
- Click on "Search" on the top right and type “IRA contributions”
- Click on “Jump to IRA contributions"
- Select “Roth IRA”
- On the "Do you have any Excess Roth Contributions" answer "Yes"
- On the "Enter Excess Contributions" screen enter the total excess contribution from 2023 (if it wasn't carried over).
- On the "How Much Excess to 2024?" screen enter how much you want to apply to 2024.
Yes, you can withdraw contributions you made to your Roth IRA anytime, tax- and penalty-free. After the extended due date you would have to request a regular distribution (leave the earnings in the account) and pay the 6% penalty on your 2023 tax return. If you want to avoid the penalty for 2024 you will have to remove the excess by December 31, 2024.
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