The Motley Fool Discussion Boards
Investing/Strategies / Retirement Investing
|Subject: Over-contributed||Date: 7/7/2002 5:26 PM|
|Author: OneLostFool||Number: 34780 of 82859|
I'm cross-posting this on the Sharebuilder account - I can use all the help I can get :)
Okay, here's my dilema.
I over-contributed to my Roth IRA through Shareholder last year to the tune of $2000. Yep, I wasn't actually authorized to contribute anything. I haven't filed taxes yet due to an extension, and I'm getting prepared in that direction. I have to pay the 6% penalty on my deposit and it's earnings, LOL, which, due to recent times, are quite in the negative.
I don't suppose that since I've taken a loss in my account, that would in some way balance out the deposit that I made? Should I wait to make the withdrawl until the absolute last minute, so that hopefully my account will reach towards where it was previously, or do I take the loss now?
Any thoughts/ideas are appreciated.
|Copyright 1996-2017 trademark and the "Fool" logo is a trademark of The Motley Fool, Inc. Contact Us|