Excess ROTH IRA contributions

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Subject Author Date Excess ROTH IRA contributions oprah.chopra 12-06-2007
Posted by oprah.chopra on December 6, 2007, 4:34 pm Please log in for more thread options I over-contributed $2000 to a ROTH IRA in 2006 and $2500 in 2007 . According to what I have read, I can rollover the 2007 excess contribution to a Traditional IRA , which I currently do not have. Can I do the same for the 2006 excess contributions, or do I owe the 6% penalty, i.e $240 ( for two years ) plus the 10% early withdrawl penalty? Similar Threads Posted Need help with excess Roth IRA contributions ... February 25, 2007, 5:00 am Excess Roth IRA contributions May 25, 2007, 10:50 pm excess ira contributions 9 yrs ago March 25, 2008, 10:00 pm 401(k) return of excess contributions March 20, 2007, 1:27 am SEP - single ee, ee vs er contribs, excess contributions February 25, 2007, 12:21 am Income from Roth excess February 6, 2007, 9:58 pm Paying Penalty for Excess Roth IRA Contribution April 12, 2006, 11:09 pm Question regarding penalty associated with excess Roth IRA contribution April 14, 2006, 3:45 am Reporting Excess Roth IRA Contribution on 1040 January 23, 2009, 9:01 pm Roth contributions & withdrawls October 11, 2007, 12:41 am