DanaB27
Expert Alumni

Retirement tax questions

I was referring to that you cannot move the funds via recharacterization. Meaning you cannot count it as Traditional IRA contribution for 2023. Please see What is a IRA recharacterizations? for additional information. 

 

Yes, if your remove the funds then you can make a new Traditional IRA contribution for 2024 or 2025.

 

Note, the deadline to remove a 2023 excess contribution without a penalty has passed. Therefore, you only need to remove the excess contribution without the earnings.

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