Do I qualify for the early distribution exception for corrected excess contributions?
You qualify if you withdraw the excess distribution before the due date of your return (including extensions).
For example, if you accidentally contributed $1,000 above the IRA contribution limit in 2025, you can withdraw that $1,000 before the due date of your return. This would qualify you for this exception to the penalty.
For example, if you accidentally contributed $1,000 above the IRA contribution limit in 2025, you can withdraw that $1,000 before the due date of your return. This would qualify you for this exception to the penalty.
