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Level 1
Mar 25, 2025 6:09 PM UTC
Question

Excess Roth IRA

Hello,

 

I’m an employee of a religious non-profit organization. In 2024, I exceeded the annual $7,000 contribution limit for my Roth IRA. I’d like to avoid the penalty. Could you please advise me on some options to do so?

 

Thanks

 

    1 reply

    MaryK4
    Alumni - Intuit
    Mar 25, 2025 6:12 PM UTC

    You can request to have the excess contribution returned before the due date of the tax return.  See How to enter the excess contribution to IRA and removal.

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