ReneV4
Employee Tax Expert

Retirement tax questions

To avoid confusion in this situation, the basis of your Roth IRA consists of your contributions

 

You stated that you had opened your Roth IRA in 2024, contributing $7,000, then you added more funds in 2025 before taking a total distribution.

 

Therefore, the total of your 2024 and 2025 contributions equals your basis.

 

**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"