I just looked more closely at Form 5329 Part IV. It looks like I can pay a 6% penalty for the $3000 excess Roth contribution this year, contribute nothing to Roth for tax year 2004, and in essence apply my excess contribution for 2003 to 2004. Am I correct on this? If it is so, is that a better deal than withdrawing the contributions+ earning, or recharacterizing it to a nondeductible traditional IRA (a.k.a. headache)?Annie <more headaches>
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