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I contributed $10,000 prior to 2023 to my Roth but I took out $5000 in contributions in 2023. I'm confused on if I'm suppose to subtract the $5,000 even though it wasn't prior to 2023? I read the learn more link and just confused on the wording included below.
"If you contributed to a Roth IRA prior to 2023 and then withdrew any contribution amount, you must calculate the amount left in the IRA."
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You will enter the $10,000 for your net contributions prior to 2023. You will enter the Form 1099-R for the $5,000 distribution in 2023.
You will enter the $10,000 for your net contributions prior to 2023. You will enter the Form 1099-R for the $5,000 distribution in 2023.
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