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URL:  http://boards.fool.com/greetings-joeprince-and-welcome-you-wrote-12445432.aspx

Subject:  Re: Roth (excess contribution) Penalties Date:  4/21/2000  8:51 AM
Author:  TMFPixy Number:  21421 of 78166

Greetings, Joeprince, and welcome. You wrote:

<<I recently discovered that my contribution to the Roth was well over the allowable (The Motley Fool's Investment Tax Guide 2000). For the past 3 years, I have annually contributed $2000.00. My wife and I have been filing separate returns, therefore, I have excessively contributed $6000.00. My wife's accountant states that if I withdraw my account, I will have to pay a 6% penality on the $6000.00 contributed and a 10% penality will be applied to any gains because of the early withdrawal violation. My questions are as follows?
1) Can I leave these funds in the Roth until early withdrawal will not be a factor (say 8 years),