An excess IRA contribution is fixable — here’s how and by when
An excess IRA contribution is fixable — but a $7,500 excess can come back as $7,200, and your custodian is not making a mistake.
Author: Sameer Patel
Sameer Patel is the founder and CEO of KCS Global Group, an India-based digital publishing company that owns and operates Finance Authority Hub. He leads the editorial team: he sets the site’s research and sourcing standards, oversees editing, and is accountable for everything published under its name. Before founding KCS Global Group, he worked in relationship and digital banking at ICICI Bank and in content operations at Genpact. He holds an MBA and a B.Com. Readers can reach him with questions or corrections through the site’s contact page.Sameer is not a licensed financial adviser. His banking background shapes how he explains everyday money topics, and articles are general education, not personal financial advice.
IRA Investments Worth Holding and the Ones That Aren’t
IRA investments don’t start themselves: 28% of 2022 rollovers were still in cash a year later. The money arrived. Nobody placed the trade.
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Self-directed IRA risks go past bad deals. Business or debt-financed income inside the account can be taxed at 37% above $16,000 in 2026.
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SEP IRA contribution limits look simple until you’re the employer too. The 25% rule becomes 20% once it’s applied to your own net earnings.
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Trump account vs 529 — the smart order for your next dollar
Trump account vs 529 is the wrong question. The $1,000 seed is free money; the 529 is the only account where school withdrawals come out tax-free.
The first step to a Trump account for kids and the $1,000
Trump accounts for kids are open, and the $1,000 is real — but the free money creates no basis, so every dollar of it is taxed as ordinary income later.
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Qualified charitable distributions let IRA owners 70½ and older exclude up to $111,000 in 2026 — and the AGI drop matters more than the tax saved.
Fixing a missed inherited IRA RMD, in the right order
Missed inherited IRA RMD? Most coverage collapses two very different failures into one — and only one of them carries an automatic IRS waiver.
Understanding Inherited IRA Spouse Rules After a Loss
Inherited IRA spouse rules work differently: a surviving spouse skips the 10-year rule most heirs face — and can avoid the early-withdrawal penalty.
