@DFH wrote:
If my understanding of this tax rule is correct, does TurboTax make the required adjustment to the aggregate IRA bases, even though there was no withdrawal from the IRA that contained post-tax contributions?
Additionally - There is NO Traditional IRA that contains the post-tax contributions.
You can NEVER withdraw ONLY the nondeductible part - it must be prorated over the entire value of ALL Traditional IRA accounts which include SEP and SIMPLE IRA's. (For tax purposes you only have ONE Traditional IRA which can be split between as many different accounts as you want, but for tax purposes they are all added together).
Any non-deductible after-tax contributions to ANY Traditional IRA account becomes a basis that applies to the aggregate total of ALL Traditional IRA accounts (that includes SEP and SIMPLE IRA's) - it does not matter which account you take the distribution from - the basis applies it.
For that same reason the years total RMD that is based on the aggregate total prior years end market value can be taken from any one or several IRA accounts because they are all the same IRA.
**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.**
