How would I prove to the IRS I've just widrawn principal or basis from my roth IRA?

Question

I'm 25 and I've taken out the 3K I put into my roth. How would I report this to the IRS?

Answer 1

See IRS Form 8606 Part III and 8606 instructions.

Answer 2

Don't  believe  they  care  if  it's  principal  or  more ,

If   you   are  NOT  59 1/2  then  there  are  penalties ,

Unless  you  are  terminally  ill  and  I  think  you  need  a  doctors  note  for  that .

And  I  believe   the  extra  10%   penalties  apply  too  but

Why  are  you  asking  us  instead  of   them  ?

The  IRA   manager  is  going  to  tell  them anyway .

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Answer 3

I assume all your contributions are directly into your Roth and are not converted from another retirement plan.  

When you made a Roth contribution you did not enter it into your tax return.  However, the IRS receives the information from your financial institution, and knows what your total contribution is.

When you take a distribution from your Roth, your contribution is assumed to come out first.  So as long as you have not taken out more than your total contribution, you owe no tax.  

You do record the distribution on Form 8606 and attach it to your tax return.  Keep a record of this form as long as you have a Roth IRA, because you need to keep track of your basis.