Bob Ama has a Roth IRA with company ABC. His basis in that account is $4,000. The balance is $5,000.
Bob has another Roth IRA with company XYZ. His basis in that account is $1,000. The balance is $1,234.
According to the rules of the Roth as Bob understands them, he is allowed to withdraw the basis without penalty.
Is the basis only looked at in total? …not by investment company?
In other words, would Bob be able to take all $5,000 out of the ABC account, leaving him with the $1,234 in his XYZ account, a basis of zero, and no penalty on that withdrawal?