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 ...
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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% ...
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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 ...
Activity Feed for newmantax
- Posted Re: Excess Roth IRA Contribution on Retirement tax questions. March 9, 2020 5:54 PM
- Posted Re: Excess Roth IRA Contribution on Retirement tax questions. March 9, 2020 6:41 AM
- Posted Re: Excess Roth IRA Contribution on Retirement tax questions. March 9, 2020 5:16 AM
- Posted Tax Year Prior to 2020: Excess Roth IRA Contribution on Retirement tax questions. March 8, 2020 8:34 PM