- Mark as New
- Bookmark
- Subscribe
- Subscribe to RSS Feed
- Permalink
- Report Inappropriate Content
Retirement tax questions
None of the distribution of $13,000 is subject to tax or penalty because it is a distribution of your basis in Roth IRA contributions, even though those were excess contributions. The taxable amount of $0 will be done on Form 8606 Part III. The early-distribution penalty is 10% of the taxable amount of $0 = $0.
‎January 3, 2020
1:02 PM