March 28, 2018

Establishing Tax Basis in IRA Contributions

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Contributions to IRAs are deductible.  If not deductible, the taxpayer has basis in his IRA so that this amount is not taxable when taken out of the IRA.  The idea is that the taxpayer probably paid income taxes on the … The post Establishing Tax Basis in IRA Contributions appeared first on Houston Tax Attorney: Mitchell Law. read more –> Establishing Tax Basis in IRA Contributions