Hi, I have a Roth IRA with primerica, tied to two funds, let's call them AAAAA and BBBBB.
Together, total value of the account is, say, $Z. Total value in AAAAA is $X, and total value in BBBBB is $Y.
On the primerica site, when I redeem shares/dollars from some fund, AAAAA or BBBBB, it takes me to a page where it says something like "We are treating this as an early withdrawl. If you don't intend this, then you have to call us. Redemptions that can only be done by phone include first home buy, etc, etc"
Now, I probably rushed through my redemptions. On the phone, I told them, sell $10,000 from AAAAA for first home buy, but I didn't even check if in fund AAAAA there was $10,000 in earnings. That is, value in AAAAA is $X, but I don't know what proportion of $X is my contribution and what proportion is earnings.
Then online, from fund BBBBB I redeemed a large proportion of my holdings in BBBBB. About 80% of $Y, and I didn't figure out beforehand what propirtion of $Y is my contributions, and what proportion is earnings. So now I think primerica will notify IRA of several early withdrawls, and I am afraid it will mark off the redemtion amounts as fully taxable.
Now I have no idea what to do. Was I supposed to just do everything over the phone and tell them "Sell this many dollars from AAAAA as non taxable original contributoins, and sell this other amount as early withdrawl." Do I transfer all the money from the redemptions (now in my bank) back to primerica, and redo all these redemtions more carefully, or do I just tend to all the bookkeeping after the fact so that only the correct taxable amount is shown as an early withdrawl when I do my 2021 tax return?
Not sure if I explained this well enough. Hopefully someone understands the potential dilemma I am trying to describe.
Thanks!
