Eyeman2
New Member

Ineligible Roth Contributions

I have been making ineligible contributions since I believe 2019. In 2021 I rolled over a Cash Balance Pension plan into my Roth IRA. In 2022 I moved the whole Roth IRA to a different investment firm, I did not contribute to this account after that. My questions is if I just withdraw the money instead of recharacterization what are the differences in taxes or penalties I am looking at?

 

I did make contributions to a Fidelity Roth IRA in 2023 and 2024 that I plan on just re-characterizing.