Dec 30

n? Some of the stocks had dividends, some had profits, some losses? So how is the tax computed on the payouts? Is there anything I should be doing with this traditional IRA account to make sure that expenses and losses are taken into account correctly?

2 comments so far...

  • taxreff Said on December 30th, 2009 at 8:40 pm:

    You don’t need to worry about any of that. Gains and losses, dividends, etc. are not recognized while in an IRA, All funds withdrawn from a traditional IRA are taxed as ordinary income.

  • Judy Said on December 30th, 2009 at 9:17 pm:

    The money is taxed as ordinary income when you take it out – it doesn’t matter whether it was from your initial contribution, interest, dividends, capital gains or anything else, it’s all taxed the same, and you don’t have to keep track of how it appreciated.

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