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Excess Roth IRA contribution
I made $1000 excess contribution to my Roth IRA for Year 2023. The contribution was made in March 2024. I contacted the broker in July 2025, and they reclassified the excess as 2024 contribution. So both 2023 and 2024 total contributions are within the allowed limit. What should I do to report the excess contribution and its correction and pay penalty/interest as required?
2 weeks ago