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Get your taxes done using TurboTax
Please clarify your situation. How you handle an excess contribution depends on whether it was a Roth IRA or a Traditional IRA, and if the later, whether or not you deducted the excess contribution on your 2019 tax return.
FYI: The penalty if you do not remove an excess IRA contribution by the filing deadline a 6% excise tax for every year the excess remains in the account.
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March 9, 2022
12:53 PM