I had excess contributions to Roth IRA in 2004 which I took out as distribution in 2005 (1099-R). I am still charged 6% excess tax every year. How do I stop this?

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I had excess contributions to Roth IRA in 2004 which I took out as distribution in 2005 (1099-R). I am still charged 6% excess tax every year. How do I stop this?

Had enough, after fifteen years, eh?

I had excess contributions to Roth IRA in 2004 which I took out as distribution in 2005 (1099-R). I am still charged 6% excess tax every year. How do I stop this?

You will want to delete the Form 5329 from your tax return for 2019. You can go back and amend your 2016, 2017 and 2018 tax returns to remove the 5329 penalty amount. Unfortunately, because of the statute of limitations, you will not be able to get the rest of the penalties removed.

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