I contributed to a Roth IRA but I make over the income limit I contributed to a Roth IRA but I make over the income limit

I contributed to a Roth IRA but I make over the income limit

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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.

 

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