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Get your taxes done using TurboTax
No, you do not have to pay the 6% excess contribution penalty because you removed the excess and earning by the due date of your individual income tax return (including extensions).
A recharacterization into a Traditional IRA would avoid the tax. A conversion is converting a Traditional IRA into a Roth.
Retirement Topics - IRA Contribution Limits
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March 6, 2022
7:12 PM