Roth Withdrawal…
We have a client who has contributed $2400 each year since 2005 (total of $19200)…in 2009 we processed an excess withdrawal for the prior year (2008) contributions ($2400). With the market down in 2009, the excess amount only came to $1409.01 in which these funds were redeposited as a 2009 contribution. Our client is looking to withdraw 100% of her Roth contributions. I would assume her total Roth contributions would now be $18209.01. Is this correct?
Permalink Submitted by Alan - IRA critic on Mon, 2013-10-28 23:16
19,200 is apparently 8 X 2,400 representing 2005-2012. 2008 was removed so that deducts 2,400. And the 2009 contribution was only 1409 instead of 2,400. Not counting 2013 and if the 1409 for 2009 was never increased to 2400, that checks with your figure of 18209.