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Get your taxes done using TurboTax
Under the automatic 2-month filing extension for living abroad, you have until June 17, 2024 to obtain a return of your excess 2023 IRA contribution to avoid the 6% excess-contribution penalty. If you fail to obtain this corrective distribution by the due date of your 2023 tax return, you'll have the penalty again each year until the excess is resolved by then obtaining a regular distribution of the excess amount.
May 27, 2024
2:51 PM