- Mark as New
- Bookmark
- Subscribe
- Subscribe to RSS Feed
- Permalink
- Report Inappropriate Content
Get your taxes done using TurboTax
If you opened your Roth Account before 2020, then that answer to your first question is yes. if you made a non-deductible contribution to your traditional IRA, you should say yes to begin tracking the cost basis. This will generate a form 8606 and will begin tracking your non-deductible contributions made to your traditional IRA. Please review this IRS link for more details regarding the 8606.
Based on what you mentioned, the answer to the third question is no.
**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"
**Mark the post that answers your question by clicking on "Mark as Best Answer"
March 16, 2021
6:41 PM