DanaB27
Expert Alumni

Retirement tax questions

Yes, if you do not request the return of contribution then you will have to file Form 8606 to report this nondeductible contribution (basis). When you later take distributions/convert funds to Roth, you will need the basis information from line 14 of Form 8606.  I assume you have deductible and nondeductible contributions in the traditional IRA. Therefore, each distribution/conversion will have a taxable and nontaxable part.

 

 

@shr22

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