Retirement tax questions

I he earns over five thousand five hundred for three years that will "work off" the excess but he can't contribute more during that time.  a 5329 is required each year to show the excess coming down. It may be worth paying the 6% penalty, especially if the IRA has grown.

 

If the IRA has not grown, you really have to ask yourself "Why?" given the surge in the stock market since election day..