: Reversing an IRA contribution? I contributed ,000 to my IRA last year but turns out I made too much money to be able to deduct IRA contributions. I've read that I can reverse an IRA contribution if I withdraw the money

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Reversing an IRA contribution?
I contributed ,000 to my IRA last year but turns out I made too much money to be able to deduct IRA contributions.

I've read that I can reverse an IRA contribution if I withdraw the money before April 15th. Is this true? I can't find any IRS publications to support this.

I spoke to my bank and they said if I withdraw the money from my IRA at this point they would report it as an early withdrawal.

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