Skip to main content
No. of Recommendations: 0
Hello,

I have contributed too much to a Roth for TY2000. I have been reading Pub 590 (p38).

Do I have "recharacterize" the excess into a traditional IRA? Do I have any other options?

I have seen two in Pub 590 but I am not sure if I interpret them correctly:
1. withdraw the contribution and returns completely for and use the money for general use.
2. assign the excess contribution for a future tax year Roth IRA contribution.

Are these two options really possible? Please can you tell me how I can go about doing these?

Thanks,
Sam

Print the post  

Announcements

The Retirement Investing Board
This is the board for all discussions related to Investing for and during retirement. To keep the board relevant and Foolish to everyone, please avoid making any posts pertaining to political partisanship. Fool on and Retire on!
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.
Contact Us
Contact Customer Service and other Fool departments here.
Work for Fools?
Winner of the Washingtonian great places to work, and Glassdoor #1 Company to Work For 2015! 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.