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Get your taxes done using TurboTax
When you made the contributions did you take the tax deduction for it each year? Your taxable amount is anything over your basis, which is any contributions you did not take a deduction. So in a Traditional IRA it is usually 100% taxable as regular income. And will push you into a higher tax bracket. You might want to spread out the distributions over a couple years.
‎December 13, 2021
2:27 PM