Re: Calculating Roth IRA basis

Thanks!

posted

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.

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Calculating Roth IRA basis