Hello,

I have a question about withdrawing Excess contribution to ROTH IRA for tax year 2020 (by submitting a special form to the Brokerage firm).

I know the excess Contribution amount must be withdrawn by 4/15/2020, but for the withdrawal of earnings due to the excess contribution, do I calculate the earnings as of 12/31/2020 or as of the date that I am withdrawing such as today?  The market has gone up so using today's date to calculate the earnings due to excess contribution will result in a higher amount which I will have to pay tax and early withdrawal penalty on in 2021.

Thanks!

Sui