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<< This is an article I just came across, I wonder why the author says this:

You need to keep records of all IRA transactions, taxable or not.

Why is it if I will take it out after 60 years old
tax-free? >>

I just tried the link to the article and got a dead end, so I'll not address the author's reasons. I can offer a couple.

1. If you don't track your investments, how do you evaluate them, and how do you know the custodian's statements are correct?

2. If you should end up taking unqualified distributions from your Roth, the ordering rules for withdrawals require that you be able to establish your basis.

My general advice would be to track basis through the 5498's provided to you and the IRS each year by the custodian. Use whatever method suits you for tracking the investments within the Roth IRA.

TMF ExRO
Phil Marti
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