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Retirement tax questions
Because basis applies to a particular participant's IRAs in aggregate, IRA custodians have no way to know if there is basis associated with any particular distribution; it's impossible to put any IRA basis information on a Form 1099-R. That's why for any regular distribution from any IRA box 2b Taxable amount determined is required to be marked on the Form 1099-R.
‎October 8, 2023
5:06 PM