qbteachmt
Level 15
04-02-2021
11:27 AM
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If I put in $6k and wasn't eligible or that is excess as duplicate or whatever reason, and in the meantime it is down to $5k, I take out $5k. There is no reporting of the loss for these protected accounts. It is no different than spending that money outside of retirement, since it was not an allowed or protected activity in the first place (not eligible).
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Don't yell at us; we're volunteers
Don't yell at us; we're volunteers