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New Member
posted Feb 21, 2020 5:48:07 AM

if there is an excess Roth contribution for 2019 but in two roth accounts, does removing the total excess in one account satisfy the withdrawal of the excess

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1 Replies
Expert Alumni
Feb 21, 2020 2:56:16 PM

Yes, you avoid the penalty as long as you 

  • withdraw the excess contributions from your IRA by the due date of your individual income tax return (including extensions); and
  • withdraw any income earned on the excess contribution

If you have more than one account then you can choose where to withdraw the excess amount.