Level 15
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Retirement tax questions

When you entered the 2017 distribution as above, the taxable amount will be calculated on lines 6-15 on the 8606 with the basis entered from the 2016 8606 line 14 going to line 2 on a 2017 8606, the 2017 distribution on line 7, the total 2017 year end value of all Traditional,SEP and SIMPLE IRA's that existed, on line 6.

The taxable amount will be calculated in lines 6-15 with the tax on the 2017 distribution on line 15 and any carry-forward basis (if line 6 is greater then zero) going on line 14 for future distributions.
**Disclaimer: This post is for discussion purposes only and is NOT tax advice. The author takes no responsibility for the accuracy of any information in this post.**