Dominance in genetics is a relationship between alleles of one gene, in which the effect on phenotype of one allele masks the contribution of a second allele at the same locus. The first allele is dominant and the second allele is recessive.For genes on an autosome (any chromosome other than a sex chromosome), the alleles and their associated traits are autosomal dominant or autosomal recessive. Dominance is a key concept in Mendelian inheritance and classical genetics.n Rr individuals the R allele masks the presence of the r allele, so these individuals also have round peas. Thus, allele R is dominant to allele r, and allele r is recessive to allele R. This use of upper case letters for dominant alleles and lower case ones for recessive alleles is a widely followed convention.
For example, suppose you made a $3,000 annual contribution to a Roth IRA early in 2003, then got a larger bonus than you expected and found that your permitted contribution was only $1,800. Your excess contribution was $1,200.If you didn't correct the excess contribution for 2003, you had to pay $72 excess contribution tax (6% of $1,200). And if you left the problem uncorrected beyond the end of 2004, you owe another $72.our excess contribution was $1,200. If you didn't correct the excess contribution for 2003, you had to pay $72 excess contribution tax (6% of $1,200). And if you left the problem uncorrected beyond the end of 2004, you owe another $72.
They will then remove the excess contribution and earnings from your Roth IRA and move it to a traditional IRA. If you do this by the due date of your tax return for the year (including extension, if applicable), it will simply be treated as if you made the contribution to the traditional IRA in the first place. For example, if you contributed $5,500 to your Roth IRA in 2013, but turned out to be ineligible to make a Roth IRA contribution, you have until April 15, 2014 (or October, 15, 2014 if you file for an extension) to recharacterize the contribution by having your brokerage firm move the $5,500 ...