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Retirement tax questions
No, it doesn't impact your Form 8606 line 2 entry. The amount rolled over will affect your Roth basis on line 22: "Increase the amount on line 22 by any amount rolled in from a designated Roth, Roth SEP, or Roth SIMPLE account that is treated as investment in the contract."
What is the code in box 7 on your Form 1099-R reporting the rollover?
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March 30, 2025
1:07 PM