Ira Deduction Limits Opened Traditional IRA In 2007. Income Exceeds Limit For Deduction. Can Roll IRA To 457 B Retirement Plan?

Opened traditional IRA in 2007. Income exceeds limit for deduction. Can roll IRA to 457 b retirement plan? - ira deduction limits

Not even if you could roll the money does not mean solving the problem.

You must follow the rules of "excess contributions" in the publication of 590 ... You can earn as much money to put their taxes and additional taxes, interest and penalties, or a tax of 6% excise tax to pay for each year the money remains in the account.