I have contributed to ROTH IRA but I exceed the MAGI. what do I do now?
I have contributed to ROTH IRA but I exceed the MAGI. what do I do now? Hi, I just realized my income for 2024 will be higher than 146K MAGI limit. I already have contributed 7K to my ROTH IRA for this year. can I just withdraw it to avoid penalty? any consideration I should make before I withdraw 7K? for more context. I have contributed a total of 31500 for years 2020 through 2024 my current Roth IRA balance is 38…