My question is that I never took out any money from my ROTH IRA. Even the access funds went to 2024 Tax Return Roth IRA contribution. So I never had the access funds in my hands. So it didn't make much sense to pay a penalty on excess funds. The excess funds were removed before the 2023 tax filing. Now in 2024 tax software tells me that I cannot make any ROTH IRA contribution. I still have $5777.66 of excess funds, which is carrying over from 2023. What is the best option here. Should I just take out the entire $5777.66 out from ROTH IRA and move it to traditional IRA and just pay the penalty i.e., 10%.
