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Retirement tax questions
@goyal_raj wrote:
Thanks macuser_22. So it is all good then.
How would i get a basis of 17592 for my Roth? which form would show it and when?
Thanks,
It not a "basis" it is the amount you said you converted to a Roth.
The 1099-R box 1.
That is what your question said:
"24Feb 2020 -Converted 5591 (500 + earnings) to Roth"
"26 Feb 2020 - converted 12000 to ROTH IRA"
= $17,591 (I assume if rounded up to 17,592).
**Disclaimer: This post is for discussion purposes only and is NOT tax advice. The author takes no responsibility for the accuracy of any information in this post.**
March 28, 2021
12:12 PM