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Visitor III

Excess Roth IRA Contribution in same year as Withdrawal

I have a Vanguard Roth IRA in which I did the following:

 

Year Adj Gross IncomeContributionWithdrawal
2014$23,149$5,500$0
2015$67,925$5,500$0
2016$89,959$5,500$0
2017$125,629$5,500$21,604.38

 

I just realized that in 2017, I contributed more than the limit due to my income. However, I withdrew $21K that same year for a down payment for a house.

 

On the IRS website it says:

For purposes of determining excess contributions, any contribution that is withdrawn on or before the due date (including extensions) for filing your tax return for the year is treated as an amount not contributed. This treatment only applies if any earnings on the contributions are also withdrawn. The earnings are considered earned and received in the year the excess contribution was made.

What I'm wondering is:

  1. How much was my contribution in 2017? Would it be (($5,500 * 4) - $21,604.38) = $395.62?
  2. Did I have an excess contribution?
  3. Do I need to fill out this Vanguard form to have Vanguard remove earnings on an excess contribution or is there anything else I need to do?

I have not filed my tax return yet.