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newmantax
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  • Thanks for your help. One last question, when I pull the excess contribution this year 2020 to avoid another 6% penalty, do I also pay 10% on the entire amount ...
    newmantax
    1
    Updated Sep 20, 2021
  • So you only have until the tax due date on the year the mistake was made to correct the Roth IRA over contribution. Every year after that you either pay the 6% ...
    newmantax
    3
    Updated Sep 20, 2021
  • Thanks. I read something that said the earnings are taxable as income in the year the contribution excess was made. The excess contribution was made in 2018. I ...
    newmantax
    Updated Sep 20, 2021
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