Hello there,
I contributed in excess to my roth IRA for tax year 2020 due to a change in income and I partially remedied this by withhdrawing it to a traditional IRA and then backdooring it the same year. Unfortunately I calculated my earnings on the excess incorrectly, and left 924.23 in excess profit in the roth IRA account, where it has remained since 2020. How do I report this or fix this with the least amount of hassle? Could I remove it and pay income tax on it now?
Thank you!