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All,

I contributed $2600 to a new Roth IRA this past year. Towards the end of the year life dictated that I get that money back. The account had lost a bit of money in the market, so I withdrew the entire $2400 that was left.

There were no capital gains, so my understanding was that the withdrawal was all my contributions of post-tax funds. I shouldn't have been subject to penalty nor taxes.

When I put my 1099-R for the account into TurboTax online, however, it docks my refund about $900. That's over 35% (taxes plus 10% penalty?)

What am I missing here?

Thanks...

Adam
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