The Motley Fool Discussion Boards

Previous Page

Financial Planning / Tax Strategies


Subject:  Tax on excess contributions to Roth IRA Date:  12/10/1999  2:02 PM
Author:  Donnalp Number:  22812 of 127753

I know there is a 6% tax on excess contributions to a
Roth IRA and something about a tax on excess contributions for the previous year (RE: instructions for 1998). I would like to make excess contributions to my Roth IRA now, pay the 6% now and no taxes in the
future - but I don't understand about future taxes on
excess contributions for previous year is it just the previous years exess or ANY previous years excess? Could you please explain this to me. Thanks.
Copyright 1996-2018 trademark and the "Fool" logo is a trademark of The Motley Fool, Inc. Contact Us