My ROTH account is only 4 years old. I called to make a withdrawal and it was explained to me that I can withdraw any of my contributions without any taxes or penalties, so long as I don’t withdraw any of the earnings. I recieved by 1099-R, I enter the amounts and codes into TT, and it takes about 25% out for taxes. What am I doing wrong?
I called the company to see if perhaps the 1099-R form was sent with incorrect data on it and was told that I may not have to enter the information on it as box 2a was left blank.
I was under the assumption that I had to report everything that was sent to be by any financial institution.
Please advise. Do I need to claim the withdrawl I made, regardless of the age of the Roth?
