http://www.secretfinance.com/blog/what-form-to-modify-excess-ira-contribution/ Thu, 09 Feb 2012 04:04:37 +0000 http://wordpress.org/?v=2.7 hourly 1 http://www.secretfinance.com/blog/what-form-to-modify-excess-ira-contribution/comment-page-1/#comment-1807 conusgypsy Thu, 02 Apr 2009 08:06:49 +0000 http://www.secretfinance.com/blog/what-form-to-modify-excess-ira-contribution/#comment-1807 You can contribute the full $5,000 if you are 50 or over. If you are not, then you will need to remove $1000. If your AGI is You can contribute the full $5,000 if you are 50 or over. If you are not, then you will need to remove $1000. If your AGI is

]]> http://www.secretfinance.com/blog/what-form-to-modify-excess-ira-contribution/comment-page-1/#comment-1806 Payroll Princess Wed, 01 Apr 2009 03:19:33 +0000 http://www.secretfinance.com/blog/what-form-to-modify-excess-ira-contribution/#comment-1806 If contributions to your Roth IRA for a year were more than the limit, you can apply the excess contribution in one year to a later year if the contributions for that later year are less than the maximum allowed for that year. A 6% excise tax applies to any excess contribution to a Roth or Traditional IRA combined. The additional tax is figured on Form 5329. If contributions to your Roth IRA for a year were more than the limit, you can apply the excess contribution in one year to a later year if the contributions for that later year are less than the maximum allowed for that year. A 6% excise tax applies to any excess contribution to a Roth or Traditional IRA combined. The additional tax is figured on Form 5329.

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