I've recently realized that there's something I don't understand about the taxes we'll need to pay on a traditional IRA. My understanding is that we'll pay ordinary income taxes on withdrawals at our tax rate at that time. Does this include taxes on the earnings? Or do we pay capital gains on those? If the latter, do we pay the capital gains rate at the time of the withdrawal or at the time the gain occurred? And who decides what proportion of what we withdraw is contribution and what is earnings? We've been assuming we could ignore capital gains implications of any trading we do. Is that true?Evenstar
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