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  1. elliesmomJune 12, 2013   

    Not everything issued on a 1099-R is “retirement income” in the truest tax sense. It may be a self-funded annuity (which has basis) or redemption of some forms of life insurance (also with basis). And how often we forget to track basis in funds that are truly “retirement ‘ accounts”. You know the ones where you initially rolled-over $160K but in the end only got $140K in the final distribution because of market down-turns.

    Dianne S. Martin, EA, ATA, ATP

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