excess IRA contribution

RMDs MUST Be Taken Before Doing a Rollover

Friday, November 16, 2012
A required minimum distribution (RMD) is not eligible for rollover. In an IRA, what this means is that when you have a required distribution for the year and you take a distribution payable to yourself, only the amount over and above the RMD amount can be put back into another IRA. This is true even if you take the distribution in January and you were planning on taking your RMD in December.
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Excess IRA Contributions 101

Monday, April 04, 2011
In 2010, the IRA contribution limit was the lesser of $5,000 or earned income. If you were 50 or older by the end of 2010 then an additional $1,000 catch-up contribution is allowed, for a total of $6,000. The same limits also apply to Roth IRAs, but they are not independent of one another. Click to read more about excess IRA contributions.
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