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How Are IRA Proceeds Taxed?

April 26, 2017IRA proceeds TAXED

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How Are IRA Proceeds Taxed?

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Deductible amounts contributed to an IRA will be fully taxable. For contributions of nondeductible amounts, only the earnings portion will be taxed. There are special rules for determining the taxable amount when both deductible and nondeductible amounts have been contributed to an IRA.