hugmonica
New Member

Retirement tax questions

Thank you for your quick response.  I have filled out ALL f8606 for the year we made contributions (for Non-Deductible IRA) and ask IRS update my Non-Deductible IRA account basis.  We will mail to IRS  Once IRS update the contribution basis, we plan to convert ALL to Roth.  Can we do it?  Can we convert entire account balance to Roth and without paying taxes on gain/growth?... As I stated this Non-Deductible accounts are exclusively used for Non-Deductible contributions... no traditional IRA contributions included.