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desaimh

Apr 3 2003, 08:43 AM

Hi:
I made excessive contribution to Roth IRA in 2001. Instead of 2000$ max I put in 4000$. I removed excess contribution in December, 2002. How do I report this (penalty etc.) to IRS.
which form should I use?

thanks,
M D

Appleby

Apr 28 2003, 07:40 AM

This response may be a little late... you report the 6 percent penalty on IRS form 5329 . Form and instructions available at the following URLs
http://www.irs.gov/pub/irs-pdf/i5329.pdf
http://www.irs.gov/pub/irs-pdf/f5329.pdf

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