https://ttlc.intuit.com/community/taxes/discussion/overcontributed-to-roth-ira/01/3241965#M1197039 <P>I'm not sure but I think my AGI will be too high in 2023 to have allowed me to contribute to my Roth IRA.&nbsp; I stopped contributing back in Feb. 2023 because I thought this may be the case.&nbsp; What do I do about the two months I had already contributed?</P> Wed, 11 Feb 2026 06:39:11 GMT applejackducks 2026-02-11T06:39:11Z https://ttlc.intuit.com/community/taxes/discussion/overcontributed-to-roth-ira/01/3241965#M1197039 <P>I'm not sure but I think my AGI will be too high in 2023 to have allowed me to contribute to my Roth IRA.&nbsp; I stopped contributing back in Feb. 2023 because I thought this may be the case.&nbsp; What do I do about the two months I had already contributed?</P> Wed, 11 Feb 2026 06:39:11 GMT https://ttlc.intuit.com/community/taxes/discussion/overcontributed-to-roth-ira/01/3241965#M1197039 applejackducks 2026-02-11T06:39:11Z https://ttlc.intuit.com/community/taxes/discussion/re-overcontributed-to-roth-ira/01/3242034#M1197040 <P><SPAN style="font-family:Arial, Helvetica, sans-serif;font-size:14px;">It depends. If you find you did contribute when your income was too high you must make a withdrawal/distribution now. &nbsp;Any earnings will be taxable in 2024 and it's possible to have the penalty waived with </SPAN><A href="https://www.irs.gov/forms-pubs/about-form-5329" target="_blank"><SPAN style="font-family:Arial, Helvetica, sans-serif;font-size:14px;">Form 5329</SPAN></A><SPAN style="font-family:Arial, Helvetica, sans-serif;font-size:14px;">. &nbsp;You will be issued a 1099-R in 2024.</SPAN></P> <P>&nbsp;</P> <P><SPAN style="font-family:Arial, Helvetica, sans-serif;font-size:14px;">The IRS chart for income thresholds will help you figure out what you can contribute for 2023 and 2024.</SPAN></P> <UL> <LI><A href="https://www.irs.gov/retirement-plans/amount-of-roth-ira-contributions-that-you-can-make-for-2023" target="_blank"><SPAN style="font-family:Arial, Helvetica, sans-serif;font-size:14px;">Income thresholds for Roth IRA Contributions for 2023</SPAN></A></LI> <LI><A href="https://www.irs.gov/newsroom/401k-limit-increases-to-23000-for-2024-ira-limit-rises-to-7000" target="_blank"><SPAN style="font-family:Arial, Helvetica, sans-serif;font-size:14px;">Income thresholds for Roth IRA Contributions for 2024&nbsp;</SPAN></A></LI> </UL> Wed, 06 Mar 2024 20:36:24 GMT https://ttlc.intuit.com/community/taxes/discussion/re-overcontributed-to-roth-ira/01/3242034#M1197040 DianeW777 2024-03-06T20:36:24Z