I have a situation, answer not super clear. If you add to your Roth IRA, and turns out your AGI is too high (because of an unforseen event), I either must retract the Roth contribution (1099-R) or pay a 6% penalty. So my Question: Is this 6% penalty only this year, and If I don't contribute next year it will be considered they will just consider this years contribution rolled to next year? I don't mind paying the 6%, I have much better gains with it over last year than that. Thoughts? Link to article that I'm uncertain about https://ttlc.intuit.com/turbotax-support/en-us/help-article/form-1099-r/happens-made-excess-roth-ira...
