I contributed to IRA accounts for my wife and myself early in a prior year. I then sold stock at the end of that year that put our AGI over the limit for such contributions but forgot to remove the funds. Rather than dealing in hypotheticals, let's try to nail down exactly what happened. As long as between you you had $4,000 of taxable compensation for the year in question and were both under 70 1/2, you were allowed $4,000 in IRA contributions of some sort. So:1. When were the contributions made, and for how much?2. For what tax year were they made?3. What type of IRA (traditional or Roth)4. What makes you think they were unallowable?5. How did you report the contributions, if at all, on your return for the year in question?Phil MartiVITA Volunteer
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