Message Font: Serif | Sans-Serif
 
UnThreaded | Threaded | Whole Thread (33) | Ignore Thread Prev | Next
Author: SirTas Big gold star, 5000 posts Old School Fool CAPS All Star Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 121150  
Subject: Re: Roth Fund Question Date: 12/18/2008 5:08 PM
Post New | Post Reply | Reply Later | Create Poll . Report this Post | Recommend it!
Recommendations: 4
When I undid my excess Roth contribution, the custodian (Vanguard) did the actual calculation of the amount to be returned -- my excess contribution and the amount that was earned by it.

I first explained my problem on the phone, then they did the calculation and returned the amount to me. At (next year's) tax tame, I got a form showing my income on the basis of this excess contribution.

I didn't have to do any calculations or file any extra paperwork. (Well, now that I think about it, there was probably a form from Vanguard where I wrote the dollar amount of my excess contribution.) But they took care of everything. For me, it was painless.

If it's in nay way a problem for you, then my guess is that you're making it into more of a big deal than it has to be. The custodian should take care of everything.

--SirTas
Post New | Post Reply | Reply Later | Create Poll . Report this Post | Recommend it!
Print the post  
UnThreaded | Threaded | Whole Thread (33) | Ignore Thread Prev | Next

Announcements

Disclaimer:
In accordance with IRS Circular 230, you cannot use the contents of any post on The Motley Fool's message boards to avoid tax-related penalties under the Internal Revenue Code or applicable state or local tax law provisions.
Post of the Day:
Value Hounds

Kate Spade's Wild Ride
What was Your Dumbest Investment?
Share it with us -- and learn from others' stories of flubs.
When Life Gives You Lemons
We all have had hardships and made poor decisions. The important thing is how we respond and grow. Read the story of a Fool who started from nothing, and looks to gain everything.
Community Home
Speak Your Mind, Start Your Blog, Rate Your Stocks

Community Team Fools - who are those TMF's?
Contact Us
Contact Customer Service and other Fool departments here.
Work for Fools?
Winner of the Washingtonian great places to work, and "#1 Media Company to Work For" (BusinessInsider 2011)! Have access to all of TMF's online and email products for FREE, and be paid for your contributions to TMF! Click the link and start your Fool career.
Advertisement