anovet
New Member

How to Amend Tax Return after excess Roth IRA contribution

I contributed to my Roth IRA account in 2018 and filed my taxes as such. Afterwards, I realized that I was ineligible to do so. I withdrew the contributions as well as their earnings. However, it now seems that I may have to file an amended tax return before October 15th, and I'm not sure what I need to do for that. Do I just file a 1040X that includes the earnings as 2018 income? If so, what sort of income is it and how do I determine the tax on it? Any advice you can offer would be much appreciated, thanks.