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My accountant says that if someone is in the top federal tax bracket, he sees no reason for taking out a traditional non-deductible IRA because your money is taxed twice (it's after tax money to contribute to one and that same money is taxed when you start to take distributions from it). I always thought that all that was taxed was the amount above what you put into the IRA, or your gains. What's up?
Thank you,
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