Skip to main content
April 18, 2023
Question

Can I ask my broker to change my excess contribution into a Roth to show it as 2023 contribution and thereby avoid the penalty for excess contribution? It was $763 over.

  • April 18, 2023
  • 1 reply
  • 0 views
No text available

1 reply

April 18, 2023

Yes, you can correct it by designating it to the 2023 tax year- but you have to remember to reduce your 2023 contributions by that amount or you will be over for 2023.