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Retirement tax questions
Ok great. This 10% penalty hurts way less than the 6% penalty because it's 6% of Excess Contribution (Principal basis not the gains) and per year. So if it takes the IRS to find out 5 years later about it, then it's 6% of that x5.
Glad I caught it & take corrective action.
‎February 23, 2020
4:07 PM