John Bullis
For the Nevada Appeal

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July 3, 2012
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John Bullis: Some IRA rules that you need to remember

Individual retirement accounts have many special rules to remember.

The benefits of a deduction now for your contribution to your regular IRA account include income tax savings (depending on your top tax bracket).

When you receive a distribution from the IRA, it is taxable income. That at least puts off the day of taxation. Maybe you will be in a lower income tax bracket then?

A disadvantage some folks don't remember is all of the income distributed from a regular IRA account is "ordinary" taxable income. If your account holds a stock that went up in value, you do not …

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The Nevada Appeal Updated Jul 3, 2012 12:51AM Published Jul 3, 2012 12:50AM Copyright 2012 The Nevada Appeal. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.