2007-07-16 14:01:37 · 3 answers · asked by Bill D 1 in Business & Finance ➔ Taxes ➔ United States
Assuming that you have had the money in the Roth for more than five years there is no income tax on distributions from a ROTH IRA.
2007-07-16 14:59:12 · answer #1 · answered by ? 6 · 1⤊ 0⤋
No. Money coming out of a Roth IRA isn't shown on your tax return.
2007-07-16 14:04:58 · answer #2 · answered by Judy 7 · 0⤊ 0⤋
actually I was trying to determine the same thing and more; Why USC 861 was being used as a basis for collecting additional social security taxes,.......Goal, to locate corresponding published CFR to learn exactly what applys to taxation of U.S. citizens with no foreign interest........??
26 USC861(b) is not the list of TAXABLE! income;appears to be just a paragraph subsection referring to another paragraph which really shows Gross income .However , the (corresponding) CFR for sec. 861exclusively, ''LIST INCOME THAT IS TAXABLE income" ...........and to whom??
CFR Sec. 1.861-8T(d) (2) (iii)
2007-07-16 16:12:21 · answer #3 · answered by skyy 2 · 0⤊ 1⤋