dmertz
Level 15

Retirement tax questions

@shani20902tt , because you are over age 59½, you don't need to know your basis unless you make a distribution before 5 years from the beginning of the year for which you first made a Roth IRA contribution.  If your first Roth IRA contribution was a conversion contribution in 2021, you would need to know your basis to complete Form 8606 Part III for any Roth IRA distributions before 2026.  Until then your Roth IRAs would not be qualified and any earnings taken out, which come out last, would be taxable.