The AHS is sponsored by the Department of Housing and Urban Development (HUD) and conducted by the U.S. Census Bureau. The Economic Census is the U.S. government's official five-year measure of American business and the economy.
The term basis is sometimes used to refer to the amount of contributed funds in a Roth IRA. Roth contributions are not tax deductible, so you've already paid taxes on the money. For this reason, you can look at your Roth contributions as your IRA basis because contributed funds are not taxed when withdrawn.RA Basis. You only have an IRA basis when you make nondeductible contributions to a traditional IRA. You can usually deduct your IRA contributions up to the $5,000 annual limit, or $6,000 when you turn 50.
The numerator equals your cumulative nondeductible contributions as of the end of the year. The denominator equals your IRA balance on that date plus all withdrawals taken during the year. Then multiply withdrawals by the fraction. The result is the amount of tax-free withdrawals of basis. The rest of your withdrawals are taxable. Example 2: As of Dec. 31, 2013, you had made $18,000 in nondeductible contributions to your two traditional IRAs. You also have a rollover IRA that was funded with a distribution from your former employerâs 401(k). During 2013, you withdrew $28,000.