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jsoles24
Level 3
April 8, 2024
Question

Roth IRA Contribution and Withdrawal in the Same Year

  • April 8, 2024
  • 2 replies
  • 12 views

My client contributed $6,000 to a Roth IRA in 2023 and withdrew the $6,000 in the same year. The client did not receive a 1099R for the withdrawal. Is the Roth IRA contribution considered not made since it was withdrawn in the same year?

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2 replies

Camp1040
Camp1040
Level 10
April 8, 2024

NO 1099-R Will be issued.

    IRonMaN
    IRonMaN
    Level 15
    April 8, 2024

    Did he get back $6,000 or $6,166 because of earnings added to it?

    Slava Ukraini!
      J
      jsoles24Author
      Level 3
      April 9, 2024

      No. $6,000 contributed and $6,000 withdrawn. No earnings.

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