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*NOW* I understand. I misunderstood the way the taxable basis was calculated. I had assumed that it was the fraction of the total value which had ammassed due to tax deductible contributions (i.e. the $20,000 from today divided by the total amount of contributions), rather than the total value minus the non-deductible contributions.

Maybe I should try to convince the IRS that my way is better:)

Thanks for all of the help. It looks like you've saved me a pile of cash.

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