Hello
I contributed to Roth in 2023 but should not have; I also had started to contribute towards 2024. When I realized before April 15 2024- immediately did an extension so I could figure stuff out by October 2024; I did the withdrawal of excess contributions. However I couldn't get help from turbotax on what to do on the turbotax software. I tried to read these forums but there was conflicting info. Also following the info, it wasnt adding my gains on those funds as taxable on the 1040. So I either changed the codes until it worked or whatever to make it work to pay taxes on it and remove those amounts in early 2024 for the 2023 Tax Filing Year.
Now in April 2025, I'm getting 1099Rs and they have code J on the amount I already withdrew in 2024 as accidentaly 2024 contributions; I thought i already paid tax on this gain last year by adding all the gains on 1040. Second, it also shows a 1099R for the 2023 excess contribution that i removed for the Filing Year 2023 in 2025 for Tax Year 2024 as PJ.
What is going to happen now?? how do i make sure i'm not paying taxes or penalties on contributions fixed in the correct year - why is this coming to haunt me in the 2024 filings???
Do I need to hire someone to just fix everything ? do i just pay double tax again all over to save time and call it a day??? I do not want to waste any time on this anymore
