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What to do about over contribution


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Guest jrhoades
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Through work, I have contributed $2080 to a TIRA. Additionally, I have contributed $2400 to a Roth IRA. I was advised that I could do this since the TIRA was through an employee savings plan. However, I am not sure this is the case. It appears that I am only able to contribute $3000 aggregate between the two accounts.

I have had both accounts for a several years, which means I may have over contributed for several years. (In years past, I only contributed $2000 to each account.)

If this is the case, what are my options?

Is it possible to transfer the Roth IRA into my wife's name since she does not have any IRAs?

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