Thanks for the answer!! Just wanted to verify. My 1099-R says the following:
1 Gross distribution $25,286.30
2a Taxable amount $25,286.30
2b Taxable amount not determined (X)
Total distribution (X)
3 Capital gain (included on line 2a)
So in addition to paying tax on the 25,286.30, do I need to take out the 7k + earnings from the ROTH IRA, and pay taxes on it?
Again, I contributed 7k to roth first, then over 11k in standard IRA. NOTE: 11K was after tax money put into the standard IRA.
Thanks again for any help. I'll make sure to thumbs up for ya 🙂
