Unlike excess contributions subject to the 50 percent limitation, excess contributions subject to either the 20 or 30 percent limitations cannot be carried forward.

Question

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Excess contributions subject to the 20 or 30 percent limitations can be carried forward for up to five years, allowing taxpayers to potentially deduct them in future tax years if they exceed their adjusted gross income (AGI) limitation in the current year.

Unlike Excess Contributions Subject to the 50 Percent Limitation, Excess