- Mark as New
- Bookmark
- Subscribe
- Subscribe to RSS Feed
- Permalink
- Report Inappropriate Content
Retirement tax questions
You were apparently not yet age 59½ when you took the distribution from the Roth IRA, otherwise the distribution would be a qualified Roth IRA distribution (because your first contribution to the Roth IRA was more than 5 years ago) and you wouldn't be preparing Form 8606 Part III. The amount shown in box 5 of the code H 2014 Form 1099-R that reported the rollover (not the entire amount rolled over) became contribution basis in your Roth IRAs. That box 5 amount needs to be included on Form 8606 line 22 along with the contributions that you made directly to the Roth IRA.
April 12, 2021
5:14 PM