Individual retirement accounts and 401(k)s have long been used to help defer taxes, allowing savers to contribute both deductible and nondeductible payments to receive tax-deferred gains on income.
There are many IRS rules that focus on these accounts, and that will affect not only savers during accumulation, but retirees during decumulation. In a previous piece we looked at the basics of these accounts (Top 15 IRA Tax Facts to Know). Here, drawing from ALM’s Tax Facts, we look closer at the tax implications with distributions. See the gallery above for some of those insights.
(Graphics: Chris Nicholls/ALM)
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