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Retirement tax questions
You would need to determine the amount of after-tax contributions made to the plan and, if so, use the Simplified Method to calculate the taxable amount; TurboTax has the ability to do the Simplified-Method calculation based on your input. Otherwise, the entire amount is taxable. If you use the Simplified Method, the IRS will like ask for documentation supporting your claim of the amount of after-tax contributions to the plan.
‎October 25, 2023
9:39 AM