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ljspence03
April 14, 2025
Question

What is the basis in retirement plan?

  • April 14, 2025
  • 1 reply
  • 0 views
Where do I find this amount?

1 reply

AmyC
AmyC
April 14, 2025

Basis is the amount that has already been taxed. For example: If you have been setting money aside in a traditional IRA but could not take the full deduction, you have a basis. You would be filing form 8606 to track basis each year.

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