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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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‎April 2, 2025
5:50 AM