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Get your taxes done using TurboTax
@macuser_22 What is a non-deductible basis in an IRA anyway? What is a deductible basis in an IRA?
An IRA, a Traditional IRA or Rollover IRA is fully taxable every time you withdraw from it or convert some of it to a ROTH -- which I do every year. The only difference is if you had put some money into it that was already taxed. I don't understand the word deductible with respect to IRAs, actually I don't understand basis either. Can you say more please? thanks!
‎January 26, 2021
10:27 PM