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Adjusted closing balance

Last Updated April 7, 2009

Definition
 

 The fair market value at the end of the computation period plus:
 
As long as these occurred during the computation period
 
 

Referring Cite

 
TD 9056, IRS Form 5329
 
 
 

Additional Helpful Information

 
 
 
  • NIA calculations and allocations must be based on the overall value of an IRA and the dollar amounts contributed, distributed or recharacterized to or from the IRA. As a result, the principal amount of regular Roth IRA contributions cannot be protected against adjustment for their pro rata share of net income, including any net losses, during the computation period
  • See related definition Adjusted opening balance