About: Net income attributable

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The net income attributable (NIA), is a concept in the Internal Revenue Code for calculating the net gain or loss generated by an excess individual retirement account (IRA) contribution or the net gain or loss for the purposes of a Roth IRA conversion or recharacterization. The term net income attributable is used in U.S. Code Title 26, § 408 (d)(4)(C) and is further clarified in regulation TD 9056 issued by the U.S. Treasury Department. The formula for calculating the NIA of a contribution is:

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  • The net income attributable (NIA), is a concept in the Internal Revenue Code for calculating the net gain or loss generated by an excess individual retirement account (IRA) contribution or the net gain or loss for the purposes of a Roth IRA conversion or recharacterization. The term net income attributable is used in U.S. Code Title 26, § 408 (d)(4)(C) and is further clarified in regulation TD 9056 issued by the U.S. Treasury Department. The formula for calculating the NIA of a contribution is: For example, when an excess IRA contribution is removed not only the excess contribution amount itself needs to be removed but also any income that was generated by that contribution while it was in the account. Conversely, if an IRA decreased in value while it contained an excess contribution the loss that can be attributed to the excess contribution does not need to be removed from the account. In the latter case, the amount that is effectively removed is the original excess amount less the NIA. (en)
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  • The net income attributable (NIA), is a concept in the Internal Revenue Code for calculating the net gain or loss generated by an excess individual retirement account (IRA) contribution or the net gain or loss for the purposes of a Roth IRA conversion or recharacterization. The term net income attributable is used in U.S. Code Title 26, § 408 (d)(4)(C) and is further clarified in regulation TD 9056 issued by the U.S. Treasury Department. The formula for calculating the NIA of a contribution is: (en)
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  • Net income attributable (en)
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