Skip to main content
No. of Recommendations: 0
<< 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.

Phil Marti
Print the post  


The Retirement Investing Board
This is the board for all discussions related to Investing for and during retirement. To keep the board relevant and Foolish to everyone, please avoid making any posts pertaining to political partisanship. Fool on and Retire on!
What was Your Dumbest Investment?
Share it with us -- and learn from others' stories of flubs.
When Life Gives You Lemons
We all have had hardships and made poor decisions. The important thing is how we respond and grow. Read the story of a Fool who started from nothing, and looks to gain everything.
Contact Us
Contact Customer Service and other Fool departments here.
Work for Fools?
Winner of the Washingtonian great places to work, and Glassdoor #1 Company to Work For 2015! Have access to all of TMF's online and email products for FREE, and be paid for your contributions to TMF! Click the link and start your Fool career.