Message Font: Serif | Sans-Serif
No. of Recommendations: 0
I suppose this falls into the category of "nice problems to have" but my wife and I did a little better than we'd expected to last year, which has resulted in the disqualification of the Roth contributions that we made in 2008.

My contributions were made at regular intervals in 2008 - actual purchases of stock didn't coincide with contributions. My wife made two lump sum contributions, with instructions to immediately buy mutual funds.

So, here's my question/problem: I need to take out $5,000 plus earnings from each of our Roths. Needless to say, we don't have earnings - we have losses.

I don't want to take out more than I really need to, but I can't think of a really great way to say precisely what our losses were on the Roth contributions, due to the various contribution dates and purchase dates. Am I better off just taking the full $5,000 out of each portfolio to be safe, or is there someone who has had experience with this sort of thing who can offer a better solution?

Thanks in advance,
Print the post  


In accordance with IRS Circular 230, you cannot use the contents of any post on The Motley Fool's message boards to avoid tax-related penalties under the Internal Revenue Code or applicable state or local tax law provisions.
When Life Gives You Lemons
We all have had hardships and made poor decisions. The important thing is how we respond and grow. Read the story of a Fool who started from nothing, and looks to gain everything.
Contact Us
Contact Customer Service and other Fool departments here.
Work for Fools?
Winner of the Washingtonian great places to work, and Glassdoor #1 Company to Work For 2015! Have access to all of TMF's online and email products for FREE, and be paid for your contributions to TMF! Click the link and start your Fool career.