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Retirement tax questions
There is no double taxation. Basis in nondeductible traditional IRA contributions that remains with your wife's traditional IRAs after any particular distribution (such as a Roth conversion) will eventually be applied proportionately to future traditional IRA distributions. Some basis always remains to be applied to future distributions until the individual's balance in traditional IRAs becomes zero at the end of some year.
‎December 27, 2023
1:41 PM