IRA taxes


Q. If a employer held taxes out before depositing money into an employee IRA account at retirement, does the employee have to pay taxes on that money again at of withdraw?

A. This is a question for your tax accountant. It depends upon whether the deposit created basis in the account and this depends, not upon withholding, but upon your tax return for the year of the deposit.


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Mike Miles is a Certified Financial Planner licensee and principal adviser for Variplan LLC, an independent fiduciary in Vienna, Virginia. Email your financial questions to and view his blog at

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