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Retirement tax questions
I have never filed a Form 8606. This traditional IRA originated as a rollover from an old 401k. $13,988 was its basis at the time of the rollover in 2021, so I'm assuming that's the basis for these purposes, correct?
In 2022 I then began to convert some of it to a Roth, which ended up totaling $4845 before I paused that. Later come the recharacterization of Roth contributions and the conversion of those funds back to Roth.
Looking at Form 8606 now I'm seeing where your numbers and logic is coming from and it would come out to zero taxable. That's assuming I'm not misunderstanding something.
Thank you very much for your help thus far!
‎February 11, 2023
6:57 AM