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A taxpayer is refunded a Roth contribution she inadvertently

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made prior to filing her...
A taxpayer is refunded a Roth contribution she inadvertently made prior to filing her tax return. The 5,500 she contributed lost money & the amount of the check she received was 4,952. Is the difference of 548 (5,500 & 4,952) treated as a loss on her 1040 tax return?
Submitted: 1 year ago.Category: Tax
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Answered in 11 minutes by:
8/15/2016
Tax Professional: Lane, JD, CFP, MBA, CRPS replied 1 year ago
Lane
Lane, JD, CFP, MBA, CRPS
Category: Tax
Satisfied Customers: 12,867
Experience: Law Degree, specialization in Tax Law and Corporate Law, CFP and MBA, Providing Financial & Tax advice since 1986
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Hi Scott. Lane here.

...

What was the reason she was refunded the money. Over the earnings limit?

...

Also was this becasue of investment value difference? (or some sort of surrendr fee)?

...

If this is simply becasue the after tax investment was made at a value of 5500 and the redenption was done when the value was 4952, then yes, this is a capital loss.

...

But I think these ae imprtant questions.

...

IF tbis was for eligibility issues, she essentially never MADE a Roth contribution.

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