joelstei...@gmail.com wrote:
If I take out ROC payments from my traditional IRA, even though
ROCs aren't taxed until your cost basis is zero, I would still
pay taxes on the payout because its money "withdrawn" from my
IRA, right? Can't find any info on this online. Thanks!
What's an ROC payment?
ira smilovitz <ira.sm...@gmail.com> wrote:
joelstei...@gmail.com wrote:
If I take out ROC payments from my traditional IRA, even though
ROCs aren't taxed until your cost basis is zero, I would still
pay taxes on the payout because its money "withdrawn" from my
IRA, right? Can't find any info on this online. Thanks!
What's an ROC payment?I didn't know either. According to google it's Return of Capital.
And yes, even ROC withdrawals from a traditional IRA are taxed because
you never paid tax on those payments in the first place.
--
Stu
http://DownToEarthLawyer.com
--
If I take out ROC payments from my traditional IRA, even though ROCs aren't taxed until your cost basis is zero, I would still pay taxes on the payout because its money "withdrawn" from my IRA, right? Can't find any info on this online.
Thanks!
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