I am 64 and my wife is 65. We both made $7000 Roth IRA contributions for 2022 but our MAGI is over the limit to be eligible to make those contributions.
I planned to move the $7000 contributions + the Net Income Attributable to our traditional IRAs.
My question is does it have to go to a traditional IRA? Could we simply withdraw the contributions and any NIA?
We also each made $7000 contributions for 2020 and 2021 which we will have to withdraw and pay penalties on.
