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I push a button that says "Contribute", and it's fraud. Donald Trump buys land in New Jersey for $2 million to develop a golf course, the golf course is deep si
by papito 5y ago
I push a button that says "Contribute", and it's fraud. Donald Trump buys land in New Jersey for $2 million to develop a golf course, the golf course is deep sixed by the town, he writes "$100 million loss because that is what it is worth in my opinion", and it's fine.
God forbid I make a few thousand dollars tax-free, let alone by accident.
- lotsofpulp 5y agoBut you just wrote you did it on purpose, not by accident.
- papito 5y agoI realized after the fact that I have been contributing above my income level - I was sort of aware I might have been out of the range but I never paid attention. The screens are nagging you about being at $0 contributions.
- lotsofpulp 5y agoSo now that you have acknowledged it, you have to take steps to fix its. Otherwise, it is fraud.
- astrange 5y agoTurbotax will yell at you when you report it and make you unwind (recharacterize) the transaction. There is a proper way to do it though. Contribute to a traditional IRA and immediately convert it.