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Get your taxes done using TurboTax
Yes, that is the correct formular to calculate the net gains. You can also use the Worksheet 1-4. Determining the Amount of Net Income Due to an IRA Contribution and Total Amount To B... from Pub 590-A.
Generally, your financial institution will calculate the gain for you when you file a request to withdrawn an excess contribution plus earnings. You could check with them.
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‎February 25, 2025
5:34 AM