mabidi
New Member

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.