Level 15

Retirement tax questions

Since the excess has not yet been corrected, you have another 6% penalty for 2018 unless you can apply the excess as a contribution for 2018.  If you can't apply the excess as a 2018 contribution, the excess has now carried into 2019.  To resolve the excess and avoid another 6% penalty for 2019, take a regular Roth IRA distribution of exactly the amount of the excess, with no adjustment for earnings or loss, by the end of 2019.

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