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Retirement tax questions
Thanks. Xchange sometimes stops to post my comments here.
the point is that 4a is referred two times for situation I describe.
if you converted trad. IRA to Roth:
"Exception 2. If any of the following apply, enter the total distribution "on line 4a" and see Form 8606 and its instructions to figure the amount to enter on line 4b."
"3. You converted part or all of a traditional, SEP, or SIMPLE IRA to a Roth IRA in 2018."
If you rolled over 401(k) to trad. IRA
"Enter "on line 4a" the distribution from Form 1099-R, box 1."
So, we have two mentions of 4a when dealing with rollovers and then conversions (in the same year).
If one rolled over 15,000 one enters 15,000 in 4a and 0 in 4b. But if you also converted that 15,000 to Roth, then one enters 15,000 in 4a and 15,000 in 4b. So we have put 15,000 twice in 4a.
Is it accurate interpretation of Line 4 rules?
the point is that 4a is referred two times for situation I describe.
if you converted trad. IRA to Roth:
"Exception 2. If any of the following apply, enter the total distribution "on line 4a" and see Form 8606 and its instructions to figure the amount to enter on line 4b."
"3. You converted part or all of a traditional, SEP, or SIMPLE IRA to a Roth IRA in 2018."
If you rolled over 401(k) to trad. IRA
"Enter "on line 4a" the distribution from Form 1099-R, box 1."
So, we have two mentions of 4a when dealing with rollovers and then conversions (in the same year).
If one rolled over 15,000 one enters 15,000 in 4a and 0 in 4b. But if you also converted that 15,000 to Roth, then one enters 15,000 in 4a and 15,000 in 4b. So we have put 15,000 twice in 4a.
Is it accurate interpretation of Line 4 rules?
‎June 1, 2019
5:09 PM