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Can I use my 403B rollover to trad IRA amount to build up an IRA basis to offset subsequent retirement distributions that will naturally be regarded as income?

Forum|Forum|7 years ago
June 1, 2019
1 reply
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I'm not referring to IRS premature penalty. The IRA basis is important to me becaus e I have a large distribution that I dont want to have added to income as that will inflate my tax liability enormously

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Best answer by MinhT1

A rollover from your 403(b) account to a Traditional IRA will not add anything to your basis. If all your 403(b) contributions were from pre-tax dollars, you have no basis in your 403(b) account. A rollover to a traditional IRA will carry over the same basis.

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MinhT1Answer

A rollover from your 403(b) account to a Traditional IRA will not add anything to your basis. If all your 403(b) contributions were from pre-tax dollars, you have no basis in your 403(b) account. A rollover to a traditional IRA will carry over the same basis.

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dmertz

Employee

A rollover from a 403(b) *can* add traditional IRA basis if any portion of the rollover from the 403(b) to the traditional IRA was after-tax basis in the 403(b). If so, click the EasyGuide button on the Let's Find Your IRA Basis page.