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EP 40 - Fixing an Excess Roth Contribution

Directed IRA Podcast

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Is There a Deadline?

There's a dead line. If you do notafter october fifteenth, the six % penalty, dang it. You got to pay the six percent penalty for last year's ind this example, one thousand dollar over contribution. So i think an amended return shouldn't cost you more than 500 dollars to a thousand at most because really you're just putting a couple of lines together on an amended return.

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