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1. Two $2000 contributions were made in January 2000.
2. For tax year 2000.
3. Roth IRAs.
4. AGI greater than 180K.
5. I did not report the contributions on my return. I specified to my broker the tax year when I contributed to the self-directed Roth IRA accounts.

Thanks for the information. Since we're now past 10/15/2001, there's only one answer: you made $4,000 in excess Roth IRA contributions for year 2000 and owe a penalty of $240 for doing so. There's nothing you can now do about that, nor can you make any other type of year 2000 IRA contribution.

Now we move on to year 2001. If your 2001 AGI will allow Roth contributions you can just leave things as they are, make no year 2001 IRA contributions, and be done with it. If possible, that's the course I'd recommend. If it's not possible, please advise and we'll take it from there.

Phil Marti
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