Should I enter $2,885 Roth IRA Contributions prior to 2017. I withdrew $10,000 from the IRA, original contribution was $12,500 remaining balance $2,885. Is this correct

billybob59 · ‎June 6, 2019

The $10,000 withdrawal was to pay off a boat. I'm not sure of the amount I need to enter when asked, "Contributions prior to 2017" Is it the remaining $2,885 or the $12,500 I originally deposited?

AnnetteB · ‎June 6, 2019

It is asking for the $12,500 total that you have contributed to the IRA.

Since your distribution from the Roth IRA is less than your total contributions, the amount you withdrew will not be taxable.

View solution in original post

AnnetteB · ‎June 6, 2019

It is asking for the $12,500 total that you have contributed to the IRA.

Since your distribution from the Roth IRA is less than your total contributions, the amount you withdrew will not be taxable.

macuser_22 · ‎June 6, 2019

The amount that you previously contributed minus anything you have already withdrawn with any previous distribution.

**Disclaimer: This post is for discussion purposes only and is NOT tax advice. The author takes no responsibility for the accuracy of any information in this post.**

Should I enter $2,885 Roth IRA Contributions prior to 2017. I withdrew $10,000 from the IRA, original contribution was $12,500 remaining balance $2,885. Is this correct