DanaB27
Expert Alumni

Retirement tax questions

Yes, since you didn't convert the amount in 2020 you will answer no and skip to line 14. Your entries are correct.

 

Line 2 is the basis reported on the previous Form 8606 line 14. Therefore, in 2020 this is the basis prior to 2020. Please see Form 8606 instructions line 2 and  8606 Instructions Basis chart for details.

 

A basis means that it was already taxes/ that it was nondeductible. Pre-taxed amounts are not included in the basis.

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