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January 18, 2025
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In the question where it asks to input roth ira contributions prior to 2024, if i contributed $475 but withdrew $511 would the number i put in that box be negative $36?

  • January 18, 2025
  • 2 replies
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    Best answer by dmertz

    You cannot withdraw more contributions than you had in your Roth IRAs. You withdrew all of your your $475 of contributions, so enter $0 for your remaining contributions prior to 2024.  The amount of contributions can never be negative.

    2 replies

    fanfare
    Employee
    January 18, 2025

    withdrawal of $511 is not a contribution.

     

     

    dmertzAnswer
    Employee
    January 19, 2025

    You cannot withdraw more contributions than you had in your Roth IRAs. You withdrew all of your your $475 of contributions, so enter $0 for your remaining contributions prior to 2024.  The amount of contributions can never be negative.