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Strategies & Market Trends : Picks of the quarter -- Ignore unavailable to you. Want to Upgrade?

To: Elroy who wrote (1311)9/3/2006 2:01:59 AM
From: Mike McFarland  Respond to of 20435
 
Gotta keep those gains in there--but you can extract
your basis...here is the answer:

Remove your basis, no taxes, no penalty!
taxalmanac.org
(now that I think about it, my wife does not yet meet
the five-year holding period on the conversion--and
example C is the one that matches her case.)

But this is useful if you needed hardship money. Mainly
you want your basis in there and new contributions as
well to be working for you.


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