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Get your taxes done using TurboTax
if you convert the entire IRA (twice) your entire basis will move to the Roth IRA untaxed.
There are rare situations where the Traditional IRA retains a prior years basis for future use.
Fill out Form 8606 to see the results of your two actions and answer your question.
Your Line 1 will be $6,000, not $1,500.
‎September 21, 2022
8:37 AM