- Mark as New
- Bookmark
- Subscribe
- Subscribe to RSS Feed
- Permalink
- Report Inappropriate Content
How to determine the basis of a nondeductible after-tax Traditional IRA contribution made in 2012 when converting to a Roth IRA in 2017?
In 2012, I put $4000 tax money in a traditional IRA account and filed form 8606 for the 2012 tax year. That $4000 was the only contribution I have ever made in that IRA account. In 2017, I converted the entire balance ($4000+$1000 capital gains) of that traditional IRA into a Roth IRA. My question is, what is the basis of my nondeductible contribution? Is it $4000 or $5000, or the ending balance of the account on 12/31/2016? Thank you.
Topics:
‎June 6, 2019
8:49 AM