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.
For example, the deadline to file a 2016 tax return is April 18, 2017, so you can make IRA contributions for the 2016 tax year until that date. The point is that while the $5,500 contribution limit is an annual maximum, you actually have about 15 and a half months to make your contributions for any given year. So, even if you're reading this in early 2017, you can still take advantage of the tax benefits of IRA investing for both the 2016 and 2017 tax years.