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Get your taxes done using TurboTax
"You will enter $6,870 as Roth IRA contribution for 2024 in the IRA contribution interview ($7,000 - $130 that you withdrew by the due date)."
If that 130 earned any money, that just puts you in the same boat for 2024 as you are in for 2023. an additional excess will appear.
Moreover, that means you won't have 130 2024 dollars available to offset 130 2023 dollars.
This is a bad solution unless you take out extra such as $150 or $200 as a cushion.
It is still complex but more so.
‎April 11, 2025
7:31 PM