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jmc2021
New Member

I need help with an excess contribution to ROTH IRA in 2018... does my TurboTax subscription allow me access to someone who can help with that?

So how do you calculate the earnings on a 2020 over-contribution in order to withdraw them? How is the formula affected by the fact that a valid 2021 contribution has been made since?

dmertz
Level 15

I need help with an excess contribution to ROTH IRA in 2018... does my TurboTax subscription allow me access to someone who can help with that?

The full calculation method, including accounting for the subsequent contribution, is giving here:

 

https://www.law.cornell.edu/cfr/text/26/1.408-11

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