topic Re: funded incorrect IRA in Get your taxes done using TurboTax

funded incorrect IRA

nylovells — Sun, 19 Apr 2026 14:47:21 GMT

I accidentally funded my traditional IRA as well as my Roth IRA, rather than my spouse's. I am not eligible ,since I had no income. Now what do I do?

Re: funded incorrect IRA

Vanessa A — Mon, 20 Apr 2026 17:05:48 GMT

You would need to withdrawal the funds from the over funded account as well as the earnings. You will need to get a Return of Excess Contribution form from the custodian of the account.

The earnings (if any) may be subject to a 10% penalty for early withdrawal.

Re: funded incorrect IRA

dmertz — Thu, 23 Apr 2026 01:18:02 GMT

If your spouse has compensation, perhaps your contributions are not excess contributions. Perhaps they are permissible spousal contributions.