Need help with Roth IRA contribution withdrawal on 2020 tax return.
I am filing a joint return with my wife. Due to my retirement on 12/2020 receiving excess sick time and vacation pay, I can no longer conn tribute to ROTH. The trouble is my wife and I have already contributed $7,000 each for 2020 and I had done $7000 for 2021 this year. I just had Schwab remove all the contribution instead and waiting for the # to report. I was told my 2021 will be reported next year.
Now I am trying to revise my tax return, here is my questions on TT Question page:
- Traditional IRA & ROTH IRA – Select the kind of IRAs you own or will contribute to for 2020
Since we have already removed or withdrew the contributions, do you think we have to check ROTH IRA Check Box?
