dmertz
Level 15

Retirement tax questions

Presumably the contribution in January 2017 was a contribution *for* 2017, not for 2016, otherwise you would not yet have made a contribution for 2017 (assuming that you made no other contributions in 2017).  If you have not yet made a contribution for 2017 you have until April 17, 2018, the regular due date of your 2017 tax return, to do so.

Had you obtained a "return of contribution" of your contribution for 2017 from the Roth IRA, adjusted for any investment gain or loss while the money was in the Roth IRA, that contribution would be treated as if it never had been made.  However, if you simply obtained a regular distribution, the original contribution is still considered to have been made and you have already maxed out your contribution for 2017.  (A return of contribution is reported by the payer to the IRS differently than a regular distribution.)

Even if you had other money in your Roth IRA that you could now distribute as a return of your 2017 contribution to nullify your original contribution for 2017, you would simply be taking money out only to put it back in again.

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