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Subject:  Contributed too much to Roth IRA Date:  11/2/2000  11:28 AM
Author:  JoeSchmoe Number:  25922 of 88417

My wife and I contributed $2000 each to our Roth IRAs on January 1. Now it appears that our income for the year will disqualify us from making any contribution at all.

Is there a procedure we need to go through to remove this money from our IRAs? I assume we'll have to figure out what earnings (if any) we had on that money, withdraw that as well, and pay tax on it?

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