The Motley Fool Discussion Boards

Previous Page

Investing/Strategies / Retirement Investing

URL:  http://boards.fool.com/actually-you-can-just-recharacterize-the-excess-14742650.aspx

Subject:  Re: excess roth contribution Date:  4/10/2001  7:58 PM
Author:  LooseChange Number:  29039 of 76392

Actually, you can just recharacterize the excess contribution (plus earnings, if any, else minus losses) over to a traditional IRA. I'm not sure how the penalty works, but it would make sense that the penalty would start applying to earnings (once the market turns around) as well as excess contributions.

It would probably make your life simpler to look into recharacterizing the money.

Regards,
LooseChange
Copyright 1996-2014 trademark and the "Fool" logo is a trademark of The Motley Fool, Inc. Contact Us