The excess-contribution tag has no wiki summary.
4
votes
3answers
539 views
Employer overpaid 401k - what's my liability?
My employer overpaid into my 401k account (ie: deposited an extra paycheck's worth of money into the account). I notified the HR/payroll person of the mistake, and they said they'd "look into it", ...
2
votes
2answers
97 views
What is the best option: conversion of excess contribution to traditional IRA; distribution, or leave for now?
I made a contribution to traditional IRA in '09. For various reasons, I did not receive some POD CD's of 2008 until now (2012). Now because of higher AGI for that year, figured on amended form, I have ...
5
votes
1answer
145 views
Do Roth 401(k) and Roth IRA plans share the same annual contribution limit?
I've contributed $2000 to my Roth 401(k) plan through my employer, and $4000 to my Roth IRA plan that is totally separate from my employer. My accountant says that the limit on Roth IRA contributions ...
6
votes
5answers
604 views
Could excess 401(k) contributions be used to game/maximize matches from different employers?
Suppose I max out my 401(k) really early. This avoids the risk that if I lose the job I would have lost the chance to contribute to it fully. However there is another risk. My company doesn't match. ...
6
votes
2answers
109 views
How can I correct over-contribution to an IRA?
I contributed $3000 to a traditional bank IRA and forgot about it. Later, I contributed an additional $6000 to an IRA annuity. So, I over contributed by $3000.
How can I correct this error?
1
vote
1answer
92 views
TFSA over-contributions: How would the penalty apply in this scenario?
If my TFSA account is maxed and I want to transfer 5000 shares at $1.00 on August 2nd, 2011, and I was to sell the shares at $2.00 on January 3rd, 2012, would I have to pay tax on the gain plus 1% per ...
5
votes
1answer
101 views
Avoiding ammending taxes for forthcoming 1099-R for 2011 when filing 2010 for IRA
I over contributed to my traditional IRA last year. This was then converted along with all my traditional IRAs into Roth IRAs in 2010. Then in 2011, I recharacterized the excess and earnings from Roth ...
2
votes
2answers
197 views
What happens if TFSA contribution limits are exceeded?
When CRA says the annual limit for a TFSA is $5000, what does it mean? What happens if I put in $6000. The gains will be taxed? How exactly? Divide the gains by 1/6, then tax the 1/6 part???
5
votes
2answers
344 views
How can I back out excess IRA contributions when my IRA has a zero balance?
I accidentally over contributed $25 to my traditional IRA last year giving a total non-deductible contribution of $5025. This was then converted along with all my traditional IRAs into Roth IRAs in ...
2
votes
1answer
270 views
What do I do with excess contribution to traditional IRA that was converted to a Roth IRA?
I accidentally over contributed $25 to my traditional IRA last year giving a total non-deductible contribution of $5025. This was then converted along with all my traditional IRAs into Roth IRAs in ...
