dmertz
Level 15

Retirement tax questions

Your distribution is partly nontaxable, but mostly taxable, calculated on Form 8606 Part I.  Given that your RMD was $7,000, I'm guessing that the $18,000 of basis in nondeductible traditional IRA contributions represented about 10% of your balance in traditional IRAs.  If so, 10% ($700) of the distribution will be nontaxable and 90% ($6,300) of the distribution will be taxable.  This will also result in your basis carried forward to 2018 being reduced to $17,300.

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