Hi @dmertz
I have a Roth Q for you on this:
2014-2018: Excess Roth contribution 5,900
Total Roth Account Contributions as of Dec 31 2019: 11,900
Roth Value: 22,800
I am trying to remove my excess roth and any earnings from 2014 - 2018 -> this means that ideally I'll have to remove 5900+ any earnings from those 5900 excess roth till date. However, given the FIFO rule of Roth, even when I try to remove those 'earnings' from Roth for past years, it wont remove them before removing all my contributions!
Q: Does IRS allow to keep earnings for past years in the Roth and not have to remove them and just have the contributions removed? Since it's impossible to 'get to the earnings piece' before removing all contributions from Roth, given the FIFO rule of removal?
