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Deductions & credits
Every year you have made non deductible contributions a form 8606 to document the non deductible contribution so when you convert to the ROTH you don't need to pay taxes again on the same money... you will have to pay taxes on the earnings the IRA have made thru the years that are converted and NO you cannot only convert the prior year non deductible contributions only. Read the form 8606 instructions.
‎April 19, 2023
4:56 PM