Retirement tax questions

For the 2000 $200, it s too late to get a return of contribution (as said above) and you will owe a 6% penalty on a  2020 5329 form on an amended 2020 tax return.

 

The $6,000 2021 excess (or what is left of it if there was a loss attributed to the $6,000) can be returned as a "return of contribution".     If less than $6,000 because of the loss you simply get less money back - you do not make up for the loss with other funds. 

 

And you do not "withdraw" it yourself, you ask of a "return of contribution" and if done in 2022,  the financial institution will issue a 2022 1099-R with a code P or PJ if a Roth for you to enter in your 2022 tax return.

 

Had there been a gain instead, you would receive back more then the contribution and the gain would be taxable income.

**Disclaimer: This post is for discussion purposes only and is NOT tax advice. The author takes no responsibility for the accuracy of any information in this post.**