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Subject:  Re: IRA confusion - did I mess up? Date:  2/21/2012  1:43 PM
Author:  alibaba42 Number:  115159 of 129628

Thank you so much Phil, I really appreciate the help! Everything is exactly as you said, and I'm relieved to hear I didn't do anything illegal or irreparable.

Just out of curiosity, what does happen to a Roth IRA if you contribute but are ineligible due to earning over the limit? Do you pay tax on it eventually when to take the payout, or over time on the capital gains each year?

Thanks again.
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