@dmertz wrote:
See section 408(d)(2)(C):
Note that the investment in the contract shall be computed as of the close of the calendar year in which the taxable year begins. With respect to IRAs, the investment in the contract is the individual's basis in nondeductible contributions.
Yes, I read the before it made the previous post, but the way I read what I posted is the definition of "designated nondeductible contributions" allows the nondeductible contribution to be part of the prior year so when computing the investment in the contract it is included for that year and treated as if it was in the contract for that year.
**Disclaimer: This post is for discussion purposes only and is NOT tax advice. The author takes no responsibility for the accuracy of any information in this post.**
