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Retirement tax questions
Let’s say you were taking distributions, of which some was basis. Now skip a year by accident, and you go a few years paying taxes on the full distribution. Later on, you discover the error. Is the basis retained for a future year? Did you lose basis(basis reduced while you paid taxes anyway) for the years reported wrongly, or can you claim the entire basis again for the next year(pro rated appropriately)?
December 18, 2024
1:04 AM