In my 2021 returns, I mistakenly confused an Employee Roth 401k contribution (in my case $10,200) with a Roth IRA contribution and reported an excess of $4200. This incurred the 6% fee of $252.
My question is 3-fold:
Should I file an amendment ASAP before completing my 2022 tax returns? Will I need to amend my State return as well? (I live in NY)
Should I submit an extension on my 2022 returns so that:
- I don't submit an erroneous Form 5329 for 2022 that shows the excess contribution credit from 2021?
- To account for the time (8 weeks minimum) it takes to process the amendment?
Thanks in advance,
