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adaly514
Returning Member

Do I need to amend my 2022 return if I did an excess return for overcontributing to my Roth IRA?

In 2022, I contributed too much to my roth IRA due to my MAGI. In Jan 2023, before I filed my taxes, I filed an excess contribution takeout of the extra amount. Then I filed my taxes. Do I need to amend my 2022 return or is everything okay now? My 2023 taxes look good but it said 'you may need to amend your 2022 return' in the roth IRA section. Thanks.

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MinhT1
Expert Alumni

Do I need to amend my 2022 return if I did an excess return for overcontributing to my Roth IRA?

If in your 2022 tax return, you had already taken account of the withdrawal of the excess contribution to your Roth IRA and had reported the eventual earnings as income to taxed, then you don't need to file an amended return.

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3 Replies
MinhT1
Expert Alumni

Do I need to amend my 2022 return if I did an excess return for overcontributing to my Roth IRA?

If in your 2022 tax return, you had already taken account of the withdrawal of the excess contribution to your Roth IRA and had reported the eventual earnings as income to taxed, then you don't need to file an amended return.

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**Mark the post that answers your question by clicking on "Mark as Best Answer"
adaly514
Returning Member

Do I need to amend my 2022 return if I did an excess return for overcontributing to my Roth IRA?

Is there a way to tell if I did that? In my 2022 return , in the Roth IRA section it has the right amount contributed (the lesser amount since I took out).

MinhT1
Expert Alumni

Do I need to amend my 2022 return if I did an excess return for overcontributing to my Roth IRA?

It looks like you did already taken account of the excess withdrawal. If you had a loss on the excess then everything is fine. If you had earnings on the excess, check that you have reported the earnings on line 4b of Form 1040.

 

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