chris B22
Returning Member

Retirement tax questions

Thank you. @dmertz 

On my taxes for the schedule 1 form there is already a $0 on line 19 as my income was already completely deducted. I will submit form 8606 with a $0 to show there was no nondeductable IRA contribution for 2019. 

 

I will also contact Etrade regarding calculating the necessary withdraw of contribution adjusted for the loss. Since I did not make any earnings I will not be subject to any taxes or penalties from withdrawing the funds from my Roth IRA early correct?