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Accidentally opened ROTH IRA for tax year 2020
I have accidentally opened ROTH IRA for tax year 2020. I am not qualified for ROTH IRA. I opened it in March and have some capital gains. The brokerage company that have Roth IRA doesnt let me to recharaterize the funds.
1. How do I withdraw and close the account ?
2. When I withdraw, do I need to withhold any taxes ?
3. How will the capital gains reported to IRS ?
‎November 17, 2020
9:07 AM