I contributed $1000 in 2023 to a Roth IRA despite being over income. I paid the penalty in 2023 and 2024, but would like to correct this issue now. I have no other IRA accounts and have not contributed anything since. The balance in the account is now $950. I am aware that I should withdraw this full amount from my IRA custodian.
What do I need to file with my taxes this year, given that there were no earnings? Do I need to amend my 2023 taxes if I already filed a 5329 and paid the penalty? I was told by a TurboTax advisor that I needed to amend my 2023 taxes to include a 1040-X, but I don’t see that recommended elsewhere. Thanks!
