My wife was informed that an excess contribution of $280 was never removed from her Roth IRA as she instructed her brokerage account holder to do in 2024. She told them to immediately removed the excess last week (they told her the penalty will be $17). My question is do I need to amend our 2024 Tax Return or out 2023 Tax Return. I have already amended our 2024 tax return once as we found a 1099-INT for our daughter that was not previously reported. Is there another way to pay the penalty other than an amendment? Can I just wait and see if the brokerage house will be issuing a 1099-R for the excess withdrawal? Thank you!
