IRA Comparison Chart
IRA COMPARISONS –2023
DEFINITIONS:
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Basis: Previously taxed funds.
Earned Income (E.I.): Generally, income subject to social security taxes, non-taxable combat pay and taxable alimony.
Annuity Rules: Payment over the lifetime of the IRA owner and (if applicable) the IRA owner's beneficiary. Nontaxable portion is distributed ratably with taxable portion under the usual rules.
Above, find an IRA comparison chart for the current year. This is intended to help taxpayers with both tax planning and general financial planning. If you need assistance, speak to a tax professional or financial advisor in your area.