Hi, I am having difficulty with removing an excess Roth IRA contribution too.
I made the contribution in 2021 and then did a recharacterization before the filing deadline, however I seem to have messed it up on my 2021 tax return, which has a Form 5329 with box 18 "Enter your excess contributions from line 24 of your 2020 Form 5329" equal to the amount of the contribution (this is wrong because the contribution happened in 2021, not 2020).
So my 2021, 2022, 2023, and (pending) 2024 tax returns all incorrectly have a Form 5329 showing that contribution and taxing me on it as if I hadn't recharacterized. I realize I likely need to amend 2021, 2022, and 2023, but for now I'm just trying to get it fixed on my 2024 tax return.
In the Roth IRA section:
1. I enter the old contribution amount when it prompts for "Enter Excess Amount".
2. I answer "Yes" to "Did you withdraw excess contributions made to a traditional IRA after the due date of last year's return?" (not accurate since I did the withdrawal in 2022, but I'm just trying to make it work).
3. I enter the old contribution amount when prompted for "Amount of Excess Contributions Withdrawn"
4. I click through the rest of the fields
Despite doing this, my 2024 tax return still has a Form 5329 showing tax for the old excess contribution. How can I get rid of that?
I'd also appreciate advice on whether I should even attempt to do this before amending my previous tax returns, or more general advice on how to clean this situation up. Thanks!
