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IRA Distributions

Any money received from a traditional IRA (Individual Retirement Arrangement) is a distribution and must be reported as income in the year it was received.  Exceptions to this are:

  • A rollover from one IRA into another

  • Withdrawals of contributions by the due date of return

  • Withdrawals of excess contributions by the due date of the return

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Cathy Fisher

Common Cents Bookkeeping and Tax Preparation

Serving Henderson, NC, Buncombe County, Polk County, Transylvania County

E: cathy@commoncentsqbo.com

P: 828-595-2835

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