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Retirement tax questions
Yes, this is an IRA contribution, not a rollover.
Apparently you are not eligible to have made the IRA contribution. The excess contribution is subject to a 6% penalty every year unless corrected. As long as you file your tax return or request a filing extension by the end of today, April 18, 2023, you have until October 15, 2023 to obtain a return of the excess contribution to avoid the penalty.
‎April 18, 2023
11:19 AM