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Retirement tax questions
Please be aware that your Roth IRA contribution may be limited based on your filing status and income:
- 2021 - Amount of Roth IRA Contributions You Can Make for 2021
- 2020 - Amount of Roth IRA Contributions You Can Make for 2020
If this applies to you then you can avoid the 6% tax on excess contributions, if you withdraw:
- the excess contributions from your IRA by the due date of your individual income tax return (including extensions); and
- any income earned on the excess contribution.
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‎January 27, 2021
3:09 PM