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Retirement tax questions
If he has at least $5,500 earned income in 2018 then the excess can either be removed before April 15 as a "return of contribution" without any penalties in 2017 or 2018 OR just apply it as a 2018 contribution, also without any 2017 or 2018 penalty.
As long as it was not entered into TurboTax for a 2017 tax return, then there is nothing to do for 2017.
**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 7, 2019
4:43 PM