Here is another discussion on the same topic:If you can swing trade to make greater than 1% a month, does it make sense to over contribute and face the penalty.
eg. In the past 3 months I have made $10,000 swing trading with an average of $25,000. That would mean a monthly penalty of $250, so I'd have to pay $750 in tax in order to save my entire $10,000 of earnings.
Has anyone else done this or are thinking of doing this.