Question: Beth, a 5 3 - year - old single taxpayer, made a $ 7 , 5 0 0 contribution to her Roth IRA on February

Beth, a 53-year-old single taxpayer, made a $7,500 contribution to her Roth IRA on February 16,2024. The contribution was for Tax Year 2023. While preparing her return in March 2024, you determine that Beth's modified adjusted gross income (MAGI) for the year was $175,000. What would be an appropriate course of action?
Advise Beth to withdraw any excess contributions before December 31,2024, to avoid penalties.
Ask Beth specific questions to determine whether any penalty exceptions apply.
Inform Beth that she was not eligible to contribute to a Roth IRA for 2023, and discuss options for removing or recharacterizing the contribution, or applying it to the next tax year.
Proceed with filing the return without making any adjustments or discussing the contribution.

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