[GNC] How to treat IRA distribution as income

[Stan Brown (using GC 4.14)]

On 2024-12-27 00:35, Brad Morrison wrote:
> 
> This may seem basic, but is your IRA
> (https://en.wikipedia.org/wiki/Individual_retirement_account)
> traditional or Roth? 
> 
> IRAs can be taxed at the contribution stage or at the withdrawal stage. 

Or both. If you ever made nondeductible contributions to your
traditional IRA, part of each distribution will be taxable and part will
be nontaxable.

If you withdraw too soon from your Roth IRA, part of the withdrawal may
be taxable, and there may be penalties as well.

See Publication 590-B for detailed rules on both of these:
https://www.irs.gov/forms-pubs/about-publication-590-b

Stan Brown
Tehachapi, CA, USA
https://BrownMath.com