The Motley Fool Discussion Boards
Investing/Strategies / Retirement Investing
|Subject: Re: Taxes due at withdrawal||Date: 9/29/1998 5:38 PM|
|Author: TMFPixy||Number: 5729 of 76421|
Joe, you wrote in part:
In simple terms your IRA's are worth $20,000 and your non deductible contributions are $2000 (10%) so you pay taxes on 90% of your distributions.
In this calculation all IRA's are added together and treated as 1 IRA. it doesn't matter which IRA you actually take the distributions from.>
By jove, I think you've got it! :-) Great reply. Thanks.
|Copyright 1996-2014 trademark and the "Fool" logo is a trademark of The Motley Fool, Inc. Contact Us|