![I contributed to a Roth IRA but I make over the income limit]({"bg": "//theme.zdassets.com/theme_assets/10087603/e106cc8a79a6a41c781c71d999cffaa33b481de7.jpg"})
![I contributed to a Roth IRA but I make over the income limit]({"bg": "//theme.zdassets.com/theme_assets/10087603/d38d9cc5a4fcb160800cb7a8f0e0cb60aaa36d2e.jpg"})
If your adjusted gross income surpasses the qualification for a Roth IRA, the IRS will charge a penalty equal to 6% of the excess amount for each year that you do not correct the error. The penalty is paid when you file your income tax return.
** Please Note: iTrustCapital, Inc. does not provide legal, investment or tax advice. Consult a qualified legal, investment, or tax professional.
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