Remove excess contributions and associated earnings by tax deadline to dodge ongoing penalties. If the excess is removed post-deadline, consider recharacterizing to a traditional IRA or adjusting ...

If you're wondering how to calculate the amount of earnings that an excess contribution can accumulate, the IRS offers a formula to apply in these situations (AOB stands for Adjusted Opening ...

Withdraw the excess contribution and earnings The easiest way to fix an overfunded IRA is to withdraw the excess contribution and any earnings it generated. To do this, reach out to your IRA ...