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 _______________________________________________ gnucash-user mailing list gnucash-user@gnucash.org To update your subscription preferences or to unsubscribe: https://lists.gnucash.org/mailman/listinfo/gnucash-user ----- Please remember to CC this list on all your replies. You can do this by using Reply-To-List or Reply-All.
