If I make a $1000 contribution to aTraditional IRA, and deduct that same amount as an IRA adjustment to income, what is the basis in that contribution? $1000 or $0?

abjonesga · ‎March 05, 2025

Can you help me understand how to compute the Basis of IRA's?

MinhT1

The basis of your traditional IRA is the sum of all nondeductible contributions you made to that IRA and all nontaxable amounts included in rollovers, minus the total of your nontaxable distributions.

Please read this IRS document.

If you make a $1,000 deductible contribution to your IRA, the basis is 0, because you have deducted it.

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If I make a $1000 contribution to aTraditional IRA, and deduct that same amount as an IRA adjustment to income, what is the basis in that contribution? $1000 or $0?

If I make a $1000 contribution to aTraditional IRA, and deduct that same amount as an IRA adjustment to income, what is the basis in that contribution? $1000 or $0?

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If I make a $1000 contribution to aTraditional IRA, and deduct that same amount as an IRA adjustment to income, what is the basis in that contribution? $1000 or $0?

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If I make a $1000 contribution to aTraditional IRA, and deduct that same amount as an IRA adjustment to income, what is the basis in that contribution? $1000 or $0?

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