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I opened a Roth on 11APR24 and added $7500 for 23. Later found because of MAGI only qualified for $500. Withdrew $7000 plus int in DEC24. How do I fix on 24 taxes?
I am trying to correct this on 2024 taxes, expecting to see a 6% penalty on the $7K overpayment come in on form 5329 and I am not seeing it. I also contributed $8k on 11APR2024 for year 2024. How do I fix this properly for the 2023 contributions on the 2024 tax return?
March 29, 2025
10:35 AM