In 2018 I accidentally contributed too much to my Roth IRA. When I filed 2018 taxes I paid the 6% penatly. Fast forward to now (March 2020), when I just discovered the error.
Getting ready to file 2019 taxes I noticed the 6% tax on the excess. Can I avoid the 6% excess penalty on my 2019 taxes if I remove the excess contribution before the 2019 tax deadline of April 15th 2020?
If yes I understand that I have my brokerage remove the excess. However I assume that I will not get back anthing
that actually verifies I removed the excess (1099-R?) before I file my 2019 taxes. How do I prove to the IRS I removed the excess before the 2019 tax deadline.
I guess I just need an understanding on if I can remove the excess in calendar year 2020 (before tax deadline) and not pay the 6% tax. IE how to report the excess plus interest was removed.
