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Question

What determines the taxable amount on IRA withdrawals?

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• Whether the amount is more than the basis

• The type of IRA account, traditional or Roth

• The combined income of the recipient

© Whether the amount of withdrawal is under the

limit

Answer

The taxable amount on IRA withdrawals is determined by the type of IRA account, traditional or Roth, and the combined income of the recipient.

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Sure, let me elaborate on my previous answer. For traditional IRA accounts, the taxable amount on withdrawals is determined by the amount of pre-tax...