With regard to excess contributions to a traditional IRA, which of the following statements is false? A. Generally, an excess contribution is the amount contributed to an IRA that is more than the smaller of the following amounts: (1) a taxpayer's taxable compensation or (2) $6,000 ($7,000 if age 50 or older). B. A taxpayer may deduct from gross income, in the first year available, the amount of the excess contribution in the IRA, from the preceding years up to the difference between the maximum amount that is deductible in the year and the amount actually contributed during the year. C. If a taxpayer has an excess contribution in his or her IRA as a result of a rollover, and the excess occurred because the taxpayer had incorrect information required to be supplied by the plan, the taxpayer can withdraw the excess contribution. D. If the excess contribution for a year is not withdrawn by the date a taxpayer's return is due, the taxpayer is subject to an 8% tax