I was a part-time employee for the first half of 1998. My husband does not have earned income. My employers have a SIMPLE IRA plan to which employees can make a maximum contribution of $6,000.00 per year. At the beginning of the year, I opened Roth IRA accounts for my husband and myself and we contributed $2,000 to each from our savings. I understood that we were allowed by law to contribute to both Roth IRA accounts and the SIMPLE IRA plan at my place of employment. I contributed the maximum of $6,000 to my SIMPLE account. Later I quit my job. My question is: Are our contributions to these three IRA accounts limited to the total of my earned income for the year? As it turned out, I quit my job before I earned the total amount that I contributed to the three accounts. If I have contributed too much (contributions to the three accounts total $10,000) to these accounts because my earned income was less, what do I do about it now?
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