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Retirement tax questions
"so the basis in this case is not reduced proportionally to what is converted"
If your basis is more than the amount that you have in traditional IRAs, the amount of basis that is applied to any traditional IRA distribution is equal to the distribution. See the calculation on Form 8606 where line 10 in not permitted to be more than 1.000.
‎December 24, 2022
10:19 AM