Level 4
This widget could not be displayed.

Retirement tax questions

last year (and several years prior to that) i both contributed the max to a TIRA and then backdoor Roth'ed it - all during Jan 1 - April 15 for the previous tax year.  On my 8606 from last year it shows basis of 5500.  my overarching goal is to not have ANY nondeductible monies in my accounts, so that its pure roth/after tax dollars only.  but my 8606 basis is 5500 on line 14.  Does this mean I am doing something wrong?