7 mistakes to avoid on your 2012 tax return
Excess Roth contributions
Single taxpayers whose modified adjusted gross income is between $110,000 - $125,000 ($173,000 - $183,000 for joint filers) cannot make a full Roth IRA contribution. Check this number when you complete your tax return. Excess contributions are subject to a 6 percent penalty on the amount you contributed.
Source: Rick Rodgers, president of Rodgers & Associates.
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