| Title: | Market Investing |
| Moderator: | 2155::michaud |
| Created: | Thu Jan 23 1992 |
| Last Modified: | Thu Jun 05 1997 |
| Last Successful Update: | Fri Jun 06 1997 |
| Number of topics: | 1060 |
| Total number of notes: | 10477 |
What are the tax implications of a non-deductible IRA. I know you
deposit after-tax money, but what happens when you withdraw it during
retirement? Is all or a portion of the withdrawal tax free?
thanks,
-dave
| T.R | Title | User | Personal Name | Date | Lines |
|---|---|---|---|---|---|
| 977.1 | PADC::KOLLING | Karen | Thu Feb 15 1996 13:48 | 5 | |
The part that's already been taxed isn't taxed again, but it gets
really hairy -- calculating losses, etc. The IRS has a publication
about it. You really need to track what happens in the account
over the years.
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| 977.2 | DECWET::ONO | The Wrong Stuff | Thu Feb 15 1996 15:14 | 4 | |
Form 8606 is used to track your basis and the taxability of distributions. Wes | |||||
| 977.3 | 2155::michaud | Jeff Michaud - ObjectBroker | Thu Feb 15 1996 18:01 | 4 | |
> Form 8606 is used to track your basis and the taxability of distributions. and make sure to file it as there is a $100 fine for not filing it (though I doubt anyones actually been fined ....) | |||||
| 977.4 | PADC::KOLLING | Karen | Thu Feb 15 1996 18:37 | 4 | |
I believe it gets more thrilling than that -- for example,
if you have a loss in the account, you get to do something fancy,
but not until after you start taking funds out of the account.
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