What to do when you just realized you over contribute for your 2023 ROTH IRA?

You can use the excess contribution of 2023 as a contribution for 2024 and you do not have to pay the excise of 6% for 2024.

In TurboTax Online, you will proceed as follows:

1. Open your return and click on "Search" on the top right and type IRA contributions in the search box
2. Click on Jump to IRA contributions
3. Select “Roth IRA”
4. On the page Do you have any Excess Roth Contributions, answer Yes
5. On the Enter Excess Contributions screen, enter the total excess contribution from 2023
6. On the "How Much Excess to 2024?" screen, enter how much you want to apply to 2024.

You'll need to notify Fidelity that you have applied your 2023 excess contribution to 2024.

Please read this TurboTax Help article for more information.

Thank you MinthT1.  This looks pretty straightforward.  Besides the 6% tax I paid, I don't have to worry about other fees/tax?  Or the gain it accumulates?

No, not once you notify Fidelity that you will apply the excess to 2024.   Once you enter that (as Minh describes above), Form 5329 will be removed.  You paid the tax for tax year 2023, so you don't need to amend.  

Typically, if you're not eligible for a contribution in 2023 due to income, you're not eligible in 2024 either.

====r

eturn of excess contribution:

after tax due date including extensions: you distribute the excess amount being carried forward on 5329,
(or offset it with currently allowed contribution) .
Amended return(s) will be needed supplying that Form 5329 since there is a 6% penalty per year on accreting excess contributions .
Earnings stay in the Roth account.

Consult your custodian to obtain the correct removal form for each case.

@jox_tax 

Thanks fanfare, but I confirmed that my income is much less this year.  Last year was just an exception.