curlytwotoes
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Thanks for helping@Opus 17. I'll withdraw the excess $1000 in 2025 so I won't have to face future penalty.
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Yes, @Opus 17I think I understand what you're saying. Let me try to restate what you said just to make sure:For 2024, I contributed directly $7000 to a Roth IRA...
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Thanks @Opus 17.Instead of taking the 10% penalty for withdrawing the excess $1000 in 2025, could I just leave it in the account and then just take another 6% p...
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@Opus 17&@fanfareTo clear up any confusion, here's exactly what I did:In 2024, I contributed $7000 to a Roth IRA, then recharacterized that amount to a Traditio...
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@Opus 17Correct, the 2025 contributions have already been converted from a Traditional IRA to a Roth IRA, which the custodian stated they would be unable to pro...
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