This is my third year of self-employment and I recently opened a Roth IRA via Charles Schwab. When going through the application form, my 2021 earnings of $108,000 were pre-populated and without thinking I submitted the application. For 2022, my net earnings were $234,000 which makes me ineligible for contributing to a Roth IRA. For this tax year of 2023 I will likely show $0 in earnings. I funded the 2023 Roth IRA with $6500 cash but have not made any investments yet. Can I get in trouble with the IRS for doing this? If so, what actions should I take? Would it be best to pull the cash before making an investment?
