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Get your taxes done using TurboTax
If your earnings are substantial (more that 6%) you can pay the 6% penalty and hold off until after the due date with extenstion (Oct 15) .
After that date, only the contribution is removed, Earnings remain in the Roth IRA
If the earnings are more than substantial, you can leave the excess to continue to compound indefinitely.
You will pay 6% on the original excess each year.
‎July 5, 2024
6:19 AM