[quote=SK in CV]It’s all treated the same way. Though your IRA may be in multiple accounts, you essentially have 1 IRA. If some of the contributions were non-deductible, some were deductible, and some were from a roll-over, it’s taxed as if you have 1 IRA. So it’s non-deductible contributions (less previous non-taxable recovery)/value of all IRA’s at the beginning of the year to determine taxable portion of all IRA distributions. You can’t pick and choose when you recover the basis tax-free.
So as a practical matter, you can’t recover all the basis until you take a final IRA distribution.[/quote]
From a record keeping perspective, that’s what I was thinking to separate things…. But other than that, yes I know it’s computed over total…. Thanks…
