Taxation of Traditional IRA Distributions. The taxation of Traditional IRA distributions depends on whether or not you have ever made nondeductible Traditional IRA contributions. If you have only made deductible contributions, all Traditional IRA distribution amounts will be included in income. If you have ever made nondeductible contributions to any Traditional IRA, the following formula must be used to determine the amount of any Traditional IRA distribution excluded from income:
Appears in 22 contracts
Samples: Ira Prototype Plan Agreement, Ira Prototype Plan Agreement, Ira Prototype Plan Agreement
Taxation of Traditional IRA Distributions. The taxation of Traditional IRA distributions depends on whether or not you have ever made nondeductible Traditional IRA contributions. If you have only made deductible contributions, all any Traditional IRA distribution amounts will be fully included in income. If you have ever made nondeductible contributions to any Traditional IRA, the following formula must be used to determine the amount of any Traditional IRA distribution excluded from income:: (Aggregate Nondeductible Contributions)
Appears in 4 contracts
Samples: Ira Prototype Agreement and Disclosure Statement, Ira Prototype Agreement and Disclosure Statement, Ira Prototype Agreement
