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Retirement tax questions
@EmptyWallet , $0 taxable on Form 1040 line 5b is correct because, as you said, all amounts were rolled over to a traditional IRA. The cost basis of the NUA shares is only taxable only if the shares are not rolled over to a traditional IRA. Now that the NUA shares have been rolled over, the shares are no longer subject to NUA treatment. Rolling over the NUA shares does not create basis in nondeductible traditional IRA contributions in your traditional IRAs.
May 17, 2024
5:06 AM