dmertz
Level 15

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?