Oh I understand. Thats terrible lol. Well thankfully its only about $5000.00 that is non deductible. What if she takes withdrawals in the same tax year as she made the non-deductible contribution? would that still have to calculated on a "basis" level?
One other question, is the balance in her 401K also calculated in the "basis" for future withdrawals from the IRA?
Last questions I promise 🙂
