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Retirement tax questions
Roth contributions do not go on a 8606 form.
Are you thinking of the 5329 for paying the 6% penalty for an excess contribution?
Have you removed the excess?
The 6% penalty would repeat in 2014, 2015, 2016, 2017 and 2018 and would require a 5329 filed for each year with an additional 6% penalty. If the excess is still there the penalty will repeat again for 2019 if not removed by years end.
Are you thinking of the 5329 for paying the 6% penalty for an excess contribution?
Have you removed the excess?
The 6% penalty would repeat in 2014, 2015, 2016, 2017 and 2018 and would require a 5329 filed for each year with an additional 6% penalty. If the excess is still there the penalty will repeat again for 2019 if not removed by years end.
**Disclaimer: This post is for discussion purposes only and is NOT tax advice. The author takes no responsibility for the accuracy of any information in this post.**
‎June 3, 2019
1:15 PM