Financial Products

Financial Products

Questions about financial product options? Find discussions around a wide variety of financial service products here. Looking for your first debit card or a seasoned saver looking for tips to build your bank account, this is a great place to share and learn.

Valued Pioneer
Posts: 4
Registered: ‎03-03-2018

Roth IRA Excess Contribution



I made an excess contribution to my Roth IRA in 2016.  I withdrew this contribution (including earnings) just before filing my 2016 taxes last year.


I understand I need to amend my 2016 tax return to include these earnings as income.  I have done this.  I can see they have been added to line 7 of my amended 1040 form.


My question is where does the 10% early withdrawal penalty on these earnings come in?  Would I pay this on my amended 2016 return?  Or on my 2017 tax return?