Permalink Submitted by Jose Morales on Thu, 2008-10-30 16:22
You cannot designate your distribution as having come from only deductible or non-deductible contributions. If you have made non-deductible IRA contributions and take a distribution your tax liability is determined on a pro-rata basis.
Permalink Submitted by Jose Morales on Thu, 2008-10-30 16:22
You cannot designate your distribution as having come from only deductible or non-deductible contributions. If you have made non-deductible IRA contributions and take a distribution your tax liability is determined on a pro-rata basis.
IRS Form 8606 will assist you in determining what portion of your distribution is taxable: [url=http://www.irs.gov/pub/irs-pdf/f8606.pdf%5DForm 8606[/url]