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Retirement tax questions
Oh...That seems bizarre. I thought the intention was to "undo" the mistaken contribution, by treating it identical to a non-IRA investment in a portfolio of securities matching the IRA. If you cannot deduct capital losses from a mistaken excess contribution, it seems to violate what I understand to be the intent of the law (it punishes). Can you cite anywhere it says this, or explain maybe why it is this way?
‎June 5, 2019
4:50 PM