I contributed $6000 under my name to Roth IRA and my MAGI is expected to be $200,000. Can I move half of my Roth IRA contribution to my wife's account without penalty?

[WesternJames123]

I am filing jointly with my wife. My wife does not have an IRA account yet.

[ThomasM125]

If you move the funds, then it will be considered a distribution to you and then a contribution by your wife to her IRA. For your distribution, you will pay tax on the income earned on those funds while they were in the fund.

[dmertz]

Moving the funds to your wife's Roth IRA involves to independent transactions.  You must obtain an explicit  return of contribution from your Roth IRA to eliminate the excess contribution before the due date of your tax return and separately your wife must make a Roth IRA contribution.  Of course you and your wife can use the returned funds to make the deposit into your wife's IRA since, once the excess contribution is returned to you (adjusted for investment gain or loss with any gain being taxable and subject to a 10% early-distribution penalty), you can do anything with that money that you want.