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Get your taxes done using TurboTax
Thanks, but none of my IRA contributions were deductible when I made them. All my IRA contributions were made after taxes. If your earnings exceed a threshold, you cannot deduct your traditional IRA contributions. If you pay taxes on 100% of your distributions, then you are paying taxes twice on the same $. I agree I should pay taxes on the earnings, just not on the original contribution amount again. I'll see if I can answer questions in TurboTax differently to see if this gets corrected.
March 18, 2021
12:16 PM