Okay I screwed up. Somehow I forgot that when my company's stock was acquired early in 2012, my shares were purchased and so I actually had a $10k gain that I didn't remember I had.
The problem is that this puts is over the limit for the Roth IRAs we've already fully funded. We're about $600 and $900 over our limits.
Could someone who's gone through this reassure me that it isn't the end of the world? I know I need to somehow reduce my contributions. Since I did the contributions in December, and immediately put the money into mutual funds, I'll probably have to wait until March, otherwise I'll end up paying a short-term redemption fee. Is there any way to get the custodian to do an in-kind transfer of shares into a traditional (after-tax) IRA?
The problem is that this puts is over the limit for the Roth IRAs we've already fully funded. We're about $600 and $900 over our limits.
Could someone who's gone through this reassure me that it isn't the end of the world? I know I need to somehow reduce my contributions. Since I did the contributions in December, and immediately put the money into mutual funds, I'll probably have to wait until March, otherwise I'll end up paying a short-term redemption fee. Is there any way to get the custodian to do an in-kind transfer of shares into a traditional (after-tax) IRA?