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Retirement tax questions
It depends on how the financial institution reports it. A return of contribution will have a 1099-R with a code R in box 7, an normal taxable distribution will have a code 1,2 or 7 for a Traditional IRA distribution that will be taxable income.
**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.**
‎July 19, 2020
7:41 PM