DanaB27
Expert Alumni

Retirement tax questions

The 1099-R states $13,392 as distribution but doesn't include the broker fee? If yes, you might want to contact your financial institute since paying the fee from your IRA should be considered part of the distribution.

 

Please note your basis on December 31, 2020, should be $7,000 from the 2020 contribution. And yes, the value on December 31, 2021, will be $0 if you took all the funds out of the traditional IRA. 

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