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So its tax time. I was given a large sum to be put into a Roth IRA. I told the accountant what the original basis amount was, but apparently the taxes are calculated on the earnings of the IRA, and not basis? Which then begs the question, how much more useless can an IRA get if the basis amount is based of the original amount, and not the amount taken out - original contribution amount? So it's really just a standard IRA with slightly less rules, but not really? I cant keep up with jews and their bullshit money grubbing games

So its tax time. I was given a large sum to be put into a Roth IRA. I told the accountant what the original basis amount was, but apparently the taxes are calculated on the earnings of the IRA, and not basis? Which then begs the question, how much more useless can an IRA get if the basis amount is based of the original amount, and not the amount taken out - original contribution amount? So it's really just a standard IRA with slightly less rules, but not really? I cant keep up with jews and their bullshit money grubbing games

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[–] • 1 pt

They moved it to 6K now, must be desperate for the shake down. But yeah, apparently basis to me, means something completely different in finance. If i have 400$, and its ax free, i take out 200$. I dont pay taxes and still have 200$. Unless you own a Roth, in which case the 400$ could be earnings vs basis, in which case you owe taxes even though the amount is under the amount you put in? This is like peak kike bullshit