Best answer! VERY clear. Thank you.One last question, early on in the 2020 tax year she withdrew $1100.00 as a normal distribution (before making the excess con...
Got it. Would the 8606 need to be filed with the 2020 return or next year with the 2021? I assume the 8606 would need to report the excess in one of the years.
Regarding the return of contribution: Would she need to contact the bank to do that or just do the withdrawal herself like a normal withdrawal?Would she still f...
Oh I understand. Thats terrible lol. Well thankfully its only about $5000.00 that is non deductible. What if she takes withdrawals in the same tax year as she m...
So to avoid the amended return, isn't it easier to just fie form 8606 with the 2020 return and list the funds as non deductible. Then make the withdrawal in 202...