Excess Roth IRA Contributions

April 8, 2017

What happens if you contribute to your Roth IRA and then find out you contributed too much? Jim and Chris answer a listener’s question when he did just that. Should he recharacterize or do something else? Another listener also asks about Roth IRAs. This listener and his wife have a traditional IRA. They were curious to know if there would be any complications if they opened a Roth with the same provider as their traditional one. Also, if you’ve contributed as much to your Roth IRA as you possibly can for the year, what other options do you have if you want to save more?

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