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Subject:  IRA Excess Contributions Date:  2/4/2000  6:23 PM
Author:  yaguri Number:  18730 of 100867

I put a bit more than $2,000 into an IRA this past year. I thought that amounts over $2,000 were simply non-deductable, but now I think I'm liable for a 6% tax on excess contributions.

Can someone tell me if I could withdraw the amount over $2,000 before April 17 and avoid the excess contributions tax? Would I instead be hit up with a 10% excise tax on IRA withdrawals?

Thanks, y'all!
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