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re: Question about a Roth account

Posted on 6/17/14 at 9:18 pm to
Posted by Brood211
Member since Jun 2012
1415 posts
Posted on 6/17/14 at 9:18 pm to
What are the penalties if you invest in a Roth but make > 185 k / yr? Which I think is this years max
Posted by kennypowers816
New Orleans
Member since Jan 2010
2446 posts
Posted on 6/17/14 at 10:19 pm to
Not sure. If you click on the links I posted above, one of them is from the IRS' website (I think the 2nd link), it should have the info you're looking for.
Posted by foshizzle
Washington DC metro
Member since Mar 2008
40599 posts
Posted on 6/18/14 at 3:15 am to
quote:

What are the penalties if you invest in a Roth but make > 185 k / yr? Which I think is this years max


The penalty on excess contributions is 6% of the excess amount.
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