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Nondeductible Contributions
Contributions to certain retirement accounts that cannot be deducted from current income taxes, but may potentially grow tax-free until withdrawal.
Tax Basis
The value of an asset for tax purposes, used to calculate gain or loss on the sale or other disposition of the asset.
Taxable Portion
The part of an income or transaction that is subject to taxes, after exemptions and deductions have been applied.
IRA Distribution
Money that is taken out from an Individual Retirement Account, which may be subject to taxes and penalties depending on the timing and circumstances of the distribution.
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