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Retirement tax questions
Thank you for the question and answer. @MarilynG1 @bcselin
What about the cost basis of the distribution?
The distribution contains: the initial contribution (cost basis) + gain
As far as the IRS's concern:
Is the entire distribution taxable? or
only the gain portion is taxable?
What about the state government? e.g. is California only taxing the gain portion, or the entire distribution?
Thank you
‎September 30, 2024
1:43 AM