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Retirement tax questions
The IRA custodian really did a disservice by not rejecting a request to return more contribution than was made.
Was the $4,500 contribution the only contribution ever made to this Roth IRA? If so, the $5.035.28 could represent a return of the $4,500 contribution with $535.28 of gains. If there was money in the Roth IRA prior to the $4,500 contribution, a $5,035.28 distribution for a return of a $6,000 contribution might be implying an investment loss of 16.0787%.
Do you have an idea of whether there was an overall investment gain or investment loss in the account between the time of the $4,500 contribution and the $5,035.28 distribution?
‎April 16, 2023
6:16 PM