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April 5, 2009

Adjusted closing balance

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Definition

 The adjusted closing balance is the fair market value of the assets 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
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