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Retirement tax questions
Because a 403(b) contains only pre-tax money, all withdrawals are subject to regular income tax, you have no basis. Any gains or losses don't matter for tax purposes, the only thing that matters is how much you withdraw. If you have gains, you withdraw more and pay more tax, if you have losses, you withdraw less so you pay less tax.
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Got it - thanks - also.... looks like the RMD has to be withdrawn from each "group type" of accounts. So one RMD from Trad IRA and one RMD taken from 403b -
Lastly.... is there anywhere in TTax to track the Market Value of the 403b as a Reminder for the future RMD ? There are several places for the IRA info, with basis, etc - but nothing for tracking the year end market value of the 403b ?
‎January 21, 2022
10:30 AM