Terry53029
Level 14
02-06-2024
09:28 AM
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You have 3 options, as long as you are under the total amount allowed for IRA's. ($6500, or $7500 over age 50)
1) you can have broker make the excess for tax year 2024.
2) you can have him recharacterize to a nondeductible traditionally IRA.
3) remove excess. This would be my last choice