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Retirement tax questions
By taking a deduction for the traditional IRA contribution, the money became pre-tax money in your traditional IRAs. Earnings are also pre-tax, so you have no after-tax money in your traditional IRAs, more properly stated as having no basis in nondeductible traditional IRA contributions. Any distribution from your traditional IRAs that is not rolled over, or a Roth conversion, is fully taxable.
‎September 17, 2022
2:33 PM
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