Excessive 2018 roth IRA conversion
Help me with options for an excessive roth ira conversion made in 2018 are there any option other than paying the 6% penalty every year the money is in the account I am interested in any type of solutions
Help me with options for an excessive roth ira conversion made in 2018 are there any option other than paying the 6% penalty every year the money is in the account I am interested in any type of solutions
Permalink Submitted by Alan - IRA critic on Mon, 2019-03-18 16:47
Can you explain what made this conversion an excess contribution? Need more details. Since you cannot convert any amount you wish, the only way a Roth conversion is treated as an excess regular contribution is when you made an excess regular TIRA contribution, then converted it, or perhaps converted an RMD distribution.