DanaB27
Expert Alumni

Retirement tax questions

To confirm, do you have nondeductible contributions left in the traditional IRA from prior years since you have such a high basis (didn't always convert the funds to Roth IRA)?

 

If you convert the nondeductible traditional IRA contributions each year to Roth (emptied your traditional IRA each year) then your basis should be used up (only exception if you had a loss before converting).

 

If you entered the same amount as carried over you shouldn't get that message.

 

@tianwaifeixian 

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