I overpaid IRA because of MAGI. Can the excess go toward my spouse's limit?

[TomSullivan]

I overpaid my IRA by a few hundred dollars in March 2020. My spouse doesn't have a 401K and we haven't funder her IRA. Can the excess in my account be applied to her limit?

If I have to withdrawal the excess and earnings, do I calculate the earning from the deposit day to the day I withdrawal it?

[macuser_22]

What type of IRA?  Having a 401(k) only applies to Traditional IRA deduction limits and not contribution limits.

But Roth contribution  are limited for both spouses bu MAGI.

[TomSullivan]

It's a Traditional IRA. So, I can leave the contribution and not be penalized?

I just don't get the deduction.

[macuser_22]

Correct.   As long as you have sufficient taxable compensation to contribute.    It is simply a non-deductible contribution that creates a 8606 form that tracks the "basis" that will not be taxed (on a pro-rated basis) when distributed.