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Retirement tax questions
The following is a confusing statement "You cannot recharacterize a contribution after the due date. Therefore, you cannot move the funds to a traditional IRA."
And then you said
"To avoid the 6% penalty in future years you will have to remove the excess contribution."
If I am removing excess funds then it can also be moved anywhere I like including traditional IRA.
I have not yet filed my taxes and tax deadline has not passed so I should be able to remove funds.
‎April 2, 2025
3:47 AM