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Author: scrooge2 One star, 50 posts Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 121114  
Subject: IRA-Taxability of Withdrawals Date: 7/13/1999 11:05 PM
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I've looked through the FAQ for this site but haven't found anything that would answer my question.

Beginning in 1977 and continuing through 1989, I made voluntary contributions to my money purchase pension plan and/or to my profit sharing plan. In 1998, I converted these plans to a regular IRA. As it stands presently, the voluntary contributions amount to 4.27% of the market value of my IRA.

Beginning this year, I start withdrawals from my IRA. Fidelity will send the IRS a 1099 after the end of this year showing the amount of my withdrawals. I assume I will report on my individual return 100% of the amount shown on form 1099. QUERY: (a) where do I deduct the 4.27% for the amount that was a voluntary contribution, (b)Will the IRS just accept my statement as to what I contributed as voluntary contributions, and (c) Of course the percent each year will be different. Do I just recalculate the percent each year and use that?

Thanks in advance for your considered replies!
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