The Motley Fool Discussion Boards

Previous Page

Financial Planning / Tax Strategies

URL:  http://boards.fool.com/if-the-monies-in-the-traditional-ira-were-all-tax-15245030.aspx

Subject:  Re: Calculating an IRA withdrawal Date:  6/24/2001  11:19 PM
Author:  SirTas Number:  52058 of 121169

If the monies in the traditional IRA were all tax deductible contributions (and their earnings), then the money was never taxed. What you take out of the IRA then gets taxed as ordinary income. (You won't need to refer to your transaction forms at all.) See Pub 590.
Copyright 1996-2014 trademark and the "Fool" logo is a trademark of The Motley Fool, Inc. Contact Us