For 2022, above $129k of MAGI for the purpose your maximum permissible Roth IRA contribution will be less than the full annual limit. With a MAGI of $142k your maximum Roth IRA contribution will be limited to $800 if under age 50 or $933.33 if over age 50, and your maximum permissible contribution will be zero if your MAGI is $144k or over.
See the post made by JulieS for a description of the penalty (excise tax) for making an excess contribution and the method for correcting the excess to avoid the penalty. Note, however, that if you make a corrective distribution and your investment has gains that are required to accompany the amount being returned, the gains will also be taxable on your 2022 tax return, raising your MAGI and, if your MAGI was below $144k without this distribution, you'll have even more of an excess contribution and you may need to do an iterative calculation to determine the full amount that needs to be returned to completely eliminate the excess. It's an annoying consequence of your MAGI being in the phase-out range for Roth IRA contributions.
