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Retirement tax questions
No earnings are to be distributed with regard to the excess contributions for 2017 and 2018. Paying the 6% penalties and removing earnings are mutually exclusive. To resolve the excess Roth IRA contributions for 2017 and 2018, obtain a regular distribution of only the amounts of the excess contributions for those years.
Since you will be recharacterizing the Roth IRA contributions made for 2019, the transfer of the excess from the Roth IRA to the traditional IRA will include the attributable earnings, calculated by your Roth IRA custodian, making those earnings become earnings in the traditional IRA.
‎January 24, 2020
2:28 PM