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Retirement tax questions
You've been paying someone to manage your IRA since the 1980's. Now that you have reached age 70 and a half it is time for them to step up and give you the calculations for your Required Minimum Distributions. When they issue you a 1099-R for the amount that has been distributed to you it should also show if there is a portion of the distribution that is non-taxable because of the original contributions that you made.
All of that is to say that you should contact the financial institution that manages your IRA and get the answers to your questions directly from them.
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‎February 8, 2022
4:00 PM