P*****a
发帖数: 629 | 1 in 2011, I made a $5000 Roth IRA contribution.
Now, I am preparing my 2011 tax. realize most of my salary was paid by a
fellowship and not shown in W-2. On my W-2 there is only $4084. So my Roth
contribution is limited to $4084.
Please help me with some instruction to reduce my Roth excess contribution.
1. Should i jus simply withdraw some money like $2000? $1500?
2. Should i calculate exactly $5000-4084=$916. and also the money gain from
it? How to calculate this, any formula?
Thank a lot. |
b******l
发帖数: 299 | 2 You need to recharacterize your IRA. Google IRA recharacterization. The
following link may help you.
http://www.mydollarplan.com/ira-recharacterization-what-why-how
from
【在 P*****a 的大作中提到】
: in 2011, I made a $5000 Roth IRA contribution.
: Now, I am preparing my 2011 tax. realize most of my salary was paid by a
: fellowship and not shown in W-2. On my W-2 there is only $4084. So my Roth
: contribution is limited to $4084.
: Please help me with some instruction to reduce my Roth excess contribution.
: 1. Should i jus simply withdraw some money like $2000? $1500?
: 2. Should i calculate exactly $5000-4084=$916. and also the money gain from
: it? How to calculate this, any formula?
: Thank a lot.
|
P*****a
发帖数: 629 | 3 thank you
【在 b******l 的大作中提到】
: You need to recharacterize your IRA. Google IRA recharacterization. The
: following link may help you.
: http://www.mydollarplan.com/ira-recharacterization-what-why-how
:
: from
|
f*******n
发帖数: 12623 | 4 I don't think recharacterization is right. Recharacterization is usually for
turning a Roth IRA contribution into a traditional IRA contribution or vice
versa. But neither traditional nor Roth IRA is right -- both traditional
and Roth IRA do not allow you to contribute more than your income.
LZ can withdraw the excess plus the earnings from the excess before April 15
and it will be treated as having never been contributed. I think the IRA
broker will be able to help figure out exactly how much, but I think it's
probably just equal to (excess contribution)*(current value of account)/(
original contribution) |
