Calculating Excess Roth Contributions???

[Guest hyperd]

My Excess contribution was made in Nov. 99. Although, the Roth IRA Account contained other funds purchased earlier in '99, the excess contribution remained in the cash fund(money market). To calculate the gains due to the excess, would I consider gains in the cash fund only and exclude gains for that year from my other mutual funds?

Thanks for any help,

CN

[BPickerCPA]

There is a formula which takes into account the entire value of the account.

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Barry Picker, CPA/PFS, CFP

New York, NY