MayaD
Expert Alumni

Retirement tax questions

You have excess contribution:

  • If you contributed to a Roth when you made too much to qualify.
  • If you contributed more than you're allowed to either IRA

 That contribution is subject to a 6% tax penalty.

 

If that is the case, check the link below for options to remove it:

What happens if I made a Roth IRA contribution but my modified adjusted gross income exceeds the lim...

**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"