[Search for users] [Overall Top Noters] [List of all Conferences] [Download this site]

Conference nyoss1::market_investing

Title:Market Investing
Moderator:2155::michaud
Created:Thu Jan 23 1992
Last Modified:Thu Jun 05 1997
Last Successful Update:Fri Jun 06 1997
Number of topics:1060
Total number of notes:10477

977.0. "non-deductible IRAs" by LJSRV1::RICH (anger is a gift) Thu Feb 15 1996 16:17

    What are the tax implications of a non-deductible IRA.  I know you
    deposit after-tax money, but what happens when you withdraw it during
    retirement?  Is all or a portion of the withdrawal tax free?

    thanks,
    -dave
T.RTitleUserPersonal
Name
DateLines
977.1PADC::KOLLINGKarenThu Feb 15 1996 16:485
    The part that's already been taxed isn't taxed again, but it gets
    really hairy -- calculating losses, etc.  The IRS has a publication
    about it.  You really need to track what happens in the account
    over the years.
    
977.2DECWET::ONOThe Wrong StuffThu Feb 15 1996 18:144
Form 8606 is used to track your basis and the taxability of 
distributions.

Wes
977.32155::michaudJeff Michaud - ObjectBrokerThu Feb 15 1996 21:014
> Form 8606 is used to track your basis and the taxability of distributions.

	and make sure to file it as there is a $100 fine for not filing
	it (though I doubt anyones actually been fined ....)
977.4PADC::KOLLINGKarenThu Feb 15 1996 21:374
    I believe it gets more thrilling than that -- for example,
    if you have a loss in the account, you get to do something fancy,
    but not until after you start taking funds out of the account.