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1099-Q distributions may have taxable portion!


HV Ken

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I learned today that a portion of the distribution reported on form 1099-Q can be taxable! This was a surprise to me! This is documented on pages 68-70 of Publication 970 (http://www.irs.gov/pub/irs-pdf/p970.pdf). The formulas are rather simple, and I wonder how many more preparers out there were unaware of this as well....

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