Assertion: contribution | /r/HasProperty | withdrawn
Facets:
value: from the traditional ira
type: OTHER
Source sentences:
text: Contributions and earnings can be withdrawn tax-free as long as certain criteria are met.
text: After-tax contributions to a traditional 401(k) can be withdrawn tax-free, but earnings on these contributions are taxable upon withdrawal.
text: However, if the taxpayer retires to a state with a lower income tax rate, or no income taxes, then the taxpayer will have given up the opportunity to avoid paying state income taxes altogether on the amount of the Roth IRA contribution by instead contributing to a traditional IRA or a tax deductible employer sponsored retirement plan, because when the contributions are withdrawn from the traditional IRA or tax deductible plan in retirement, the taxpayer will then be a resident of the low or no income tax state, and will have avoided paying the state income tax altogether as a result of moving to a different state before the income tax became due.