tcvs
New Member

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 ?