jmndn
Jan 26 2002, 07:56 PM
MY INCOME EXCEEDED THE LIMIT FOR CONTRIBUTING $$ INTO A ROTH ACCOUNT...DUE TO ALOT OF OVERTIME. WHAT TYPE OF PENALTY AM I LOOKING AT?
BPickerCPA
Jan 27 2002, 11:01 PM
None, if you withdraw or recharacterize the excess. Recharacterization is the better option.