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Allow Taxpayers to Take Distributions From The Non Deductible Part of Their Tradional IRAs First

Created by R.F. on July 30, 2015

Allow taxpayers to take distributions from the non taxable part of their IRAs first. Per current tax code a taxpayer must take distributions from traditional IRAs which can include taxable and non-taxable amounts. The math on this is difficult and will continue until the IRA owners death and then possibly to those inheriting the IRA. Taking out the non taxable part first will accomplish several things:
1) Tax paperwork for the taxpayer and possibly heirs would be a lot easier.
2) It would reduce the review work the IRS has to perform on IRA distributions.
3) It wouldn't cost the government anything because taxes were already paid on these non deductible IRA contributions.
4) Citizens would appreciate it if goverment made life a little less complicated.

Budget & Taxes
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