4
votes
0answers
95 views

What to do if I get refunded by my 401k for being considered HCE?

If my employer gives back some of the money I put away on my 401k because I am considered a HCE, can I turn around and put it back into an IRA to avoid paying taxes and penalties that year? I am over ...
0
votes
1answer
77 views

Add > 5,500 (excess contribution) to Roth IRA for temporary investment?

I have an standard IRA through work and an additional Roth IRA. I split my contributions between the two accounts. I understand the max contributions to the accounts combined is 5,500 per year. A ...
3
votes
2answers
104 views

How Do I Fix Excess Contribution Withdrawl

This is a kind of a straight forward situation but I made it little complex due to my limited knowledge of Traditional IRA and 401(k). In the year 2012, I was working as a contractor. I had a ...
3
votes
2answers
78 views

Already made contributions to a Rollover IRA in 2013, but exceeded the income limit to deduct. What to do?

I switched jobs in February of 2013 and rolled over my 401(k) to a Rollover IRA, which as I understand it, is equivalent to a Traditional IRA. Over 2013, I contributed $4125 to the Rollover IRA and ...
2
votes
2answers
127 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 ...
6
votes
2answers
114 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?
5
votes
2answers
408 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
313 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 ...