DianeW777
Expert Alumni

Retirement tax questions

I see a note from @DanaB27 where your balance in 2022, due to the Roth conversion(s), should have been zero, however, since you had a remaining basis of $202 when you completed your transfers, you should enter that in your 2023 tax return from your 2022 8606.

 

Your value in the traditional IRA was $0 at the end of 2022 but you had a loss by the time you converted the funds in 2022 therefore you still had a basis left of $202. It must be carried over to 2023.  It's not clear why it didn't transfer, but if necessary you must enter it.

 

@Anonymous50 

[Edited: 04/01/2024 | 5:34 AM PST]

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