Unfortunately JPM Chase does not calculate it for you so I have to do the gains calculation myself. I have contributed $7,000 for year 2024 and $7,000 for year 2025, so would I need to add $14,000 when calculating the gains from Pub 590-A Worksheet Line 3 although I am only taking out $7,000 from 2024 (Line 1 from the worksheet)? Technically year 2024 has gains but due to bad market conditions 2025 contribution I made one month ago has a loss so not sure if I can apply the partial loss to 2024 (Calculation causes 2025 to be a loss so it actually offsets my gains from 2024). Thank you.
