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Get your taxes done using TurboTax
The 10,000 amount is just the max you can use to avoid the 10% Early Withdrawal Penalty on the withdrawal if you are under 59 1/2. The whole amount is still taxable. Did you return the 17,000 within 60 days? If it was after 60 days it would be a new contribution and probably not allowed. So you may have an excess contribution and need to remove it.
‎November 27, 2021
1:23 PM
1,380 Views