While preparing a taxpayers 2013 return, it is determined that a 2012 excess roth ira contribution had been made during 2012.
Can the 2012 penalty for that excess contribution be computed and paid with the 2013 tax return, or does the 2012 tax return need to be amended to show the 2012 penalty?
If the taxpayer withdraws the 2012 excess contribution prior to april 15 2014, will there be any penalty for 2013?
Can the 2012 penalty for that excess contribution be computed and paid with the 2013 tax return, or does the 2012 tax return need to be amended to show the 2012 penalty?
If the taxpayer withdraws the 2012 excess contribution prior to april 15 2014, will there be any penalty for 2013?
Comment