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Retirement tax questions
It depends. For unrecovered contributions, it's asking for the total amount of basis remaining in your account in 2023. This is the total amount you have contributed to the account that has not been distributed. This does not include earnings that have accumulated in your account during its lifespan but only the amount that you contributed that remained in the account.
If in 2023, you were outside of the 5-year holding period the only taxable amount in the 2023 withdrawal would be the earnings that were distributed in 2023.
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March 4, 2025
6:08 PM