How do you calculate overcontributions in a Roth IRA?

by Roth IRA Answer Gal on August 30, 2008




How I wished we lived in a one tax state!
We had contributed to Roth IRA but by the end of the year we made too much and now we have to withdraw the contribution.
ETrade will do the calculations for you but **** *** TDAmeritrade will not. I had bought and sold a lot and I also had moneys in the account from years ago.
How do I determine what part of the gains and losses are from the year 2007 contribution?
Is there a web link that I can read up on?
All the sites I went to just say you have to withdraw but not how to do the calculations.

Jon
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{ 1 comment… read it below or add one }

TOTO 08.30.08 at 11:49 pm

Lori

accountant.com