This is not a question about backdoor Roth.
My wife and I contribute regularly to our Roth IRAs; however, I just got a new job that will put us way over the MAGI to be eligible for a Roth. My question is: what do I do with the contributions I already made for 2026? It is as simple as just withdrawing YTD contributions?
Sorry if this comes off as uninformed, this is my first time being in this situation.
What to do with Roth IRA now that we exceed the MAGI limit?
byu/Drewskeeee inpersonalfinance
Posted by Drewskeeee
6 Comments
>This is not a question about backdoor Roth.
But this is!
If you already contributed, you do [the fix for “Step #1 Error: Contributing Directly to a Roth IRA”](https://www.whitecoatinvestor.com/fix-backdoor-roth-ira-screw-ups/) in backdoor Roth to fix it.
>It is as simple as just withdrawing YTD contributions?
Completely wrong. Read the guide.
I know you say you’re not asking about the Backdoor Roth strategy…
But you actually *are* asking about the Backdoor Roth strategy.
See Screwup #1 in the second link.
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Read this for everything you need to know about Backdoor Roth and Form 8606:
* https://www.whitecoatinvestor.com/backdoor-roth-ira-tutorial/
Read this list of common screwups and solutions with respect to backdoor Roth. Beware of Screwup #5.
* https://www.whitecoatinvestor.com/fix-backdoor-roth-ira-screw-ups/
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https://www.fidelity.com/learning-center/smart-money/overcontribute-to-an-ira
If you have a reputable firm you use it should be as simple as calling them and having them walk you through what to do. It’s a common situation
No. You call your brokerage and have them recategorize the contribution as a trad IRA contribution. Since you are already on the phone with them, might as well go through the rest of the backdoor conversion process 🙂
Yes and no.
It’s either a recharacterization to a non deductible Traditional IRA followed by a backdoor Roth (so this is a question about backdoor Roth)
-or-
A removal of excess contribution. It does involve withdrawing the money, but is technically different. There’s more to it than just withdrawing that amount.
Your IRA provider can walk you through either.
What you need to do is recharacterize the contributions as Traditional IRA contributions. This basically is the legal way of saying you never meant to make them Roth IRA contributions and you actually meant to make them Traditional IRA contributions instead. Then you also should look into doing a backdoor Roth IRA conversion to move these Traditional IRA funds back into your Roth IRA account.