Withdraw from _'s Roth IRA Before 2024

Forum|Forum|1 year ago
February 16, 2025
1 reply
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First time making a withdrawal from a Roth IRA. Only have withdrawn in 2024, nothing prior. Just needed emergency cash for bills. Is this asking if anything was withdrawn BEFORE 2024? Or do I just answer 'yes'?

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AnnetteB6

If the question states 'before 2024', then it is asking about any withdrawals in 2023 or earlier. It does not include the withdrawal that was made during 2024. Since this was your first time withdrawing from the Roth IRA, you should answer 'no'.

This information is used to determine whether any early withdrawals had been made that would affect the basis (your contributions) of the account. If you had made earlier withdrawals, then your basis would need to be adjusted to take those earlier withdrawals into account.

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