n8236
Returning Member

Oh no! Over-contribution in Roth IRA.

Hi All,

For background, I have an individual and Roth IRA account with TD Ameritrade.

For 2020, I contributed $12k as opposed to the $6k annual limit to my Roth IRA. Unfortunately, I used up 100% of those funds to buy stocks.

What ways/methods do I have to minimize/avoid the penalty?


Thanks in advance