TIRA Accidentally Put in Roth Account

Every year client does a Backdoor Roth. This year, the client accidentally put his Roth account in the memo section of the check meant for the Traditional IRA, and the investment broker’s assistant deposited into a Roth account.

Client’s AGI is substantially higher than the limits allowed for a Roth contribution.

The deposit happened last week for 2021.

How do we fix?



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