No. of Recommendations: 0
Had my taxes done today. Our MAGI is more than $ 150,000 (filing jointly). I have aleady maxed out my contribution ($3,500)and the total balance is invested, no cash left. I have contributed only $ 2,000 to my wife's Roth (her max. is $ 3,000). Upon reading the boards and downloading the pages from the IRS website, my calculation shows we have over contributed $550 in total. There is more than $550 uninvested cash still left in her Roth. Can I withdraw the over contibution from the cash left in her Roth or am I forced to recharacterize my Roth?

I apologize for the long post, my first on this board.

Thanks
Pietie
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.