Hello Bill,
Yes, Turbo tax told me how much was in excess and it makes sense as to what I saw the limits to be and how much my wife and I contributed. She does have enough to withdrawal the amount of the excess . By your response it appears if we can stop what we set in motion we can at least avoid the penalty rather than paying penalty and paying income tax this year. So with all things considered would it be true to say withdrawing the
excess would be less out of pocket then moving it to a 2025 contribution? If we do keep it or they do not allow us to change back to withdrawing it, as long as we adjust our contributions to not exceed the current t limits we should not be penalized again correct?
