Retirement tax questions

You requested an extension.

 

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 contributed amount as returned.

positive earnings removed are no longer penalized 10% if you are under age 59 1/2. (eliminated in 2023)

@fiona5