Shelton
Apr 3 2001, 04:49 PM
What is the deadline for correcting an IRA excess contribution that was made March 2001 for year 2000?
CheriB
Apr 3 2001, 05:12 PM
I believe it is April 15th.
ERead
Apr 3 2001, 05:25 PM
What is the correction? If the deposit was made in 2001, prior to 4/15, it can be counted for both the 2000 contribution and for 2001 - made in the tax year... outside of that, I would agree, correction needs to be made by filing deadline.
Shelton
Apr 3 2001, 05:39 PM
Thanks -
I know its tax-filing deadline, plus extensions- however, there seems to be some confusion about which tax-filing deadline. The answers I have been given are
1) Because it was made FOR year 2000- the deadline to remove it is April 15, 2001 plus extensions
2) Because it was made IN 2001,the deadline is April 15, 2002- plus extensions.The focus is the year IN which it was made- not FOR the year it was made
Which is correct?
THanks
Shelton
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