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Author: Srimanta01 Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 124156  
Subject: Re: Systematic Savings Date: 7/9/1998 1:48 PM
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>>>>>>>>>My question is when I paid the tax before I invested the money, paid taxes on the gains, why I should pay tax on the entire amount ? Is there a IRS
reference I get obtain to read more about this or any suggestions about this dilema>>>>>>>>>

You must have received completely wrong advice. Since you have been paying taxes all these years on the gains and the fact that the contributions were with after-tax dollars, tells me that this is not a IRA, SEP or some such retirement savings program. In that case, the money is all yours to use as you see fit, no more taxes. However, that xxxxxx must be a tidy sum by now and since you will not spend it all at once, the money left in the account will generate income, on which taxes will definitely have to be paid. Cheers.
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