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Retirement tax questions
Yes, if you converted a Traditional IRA to a Roth IRA, Form 8606 needs to be completed. The directions from Form 8606 state:
Who Must File - File Form 8606 if ANY of the following apply:
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You made nondeductible contributions to a traditional IRA for 2019, including a repayment of a qualified disaster or reservist distribution.
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You received distributions from a traditional, SEP, or SIMPLE IRA in 2019 and your basis in traditional IRAs is more than zero. For this purpose, a distribution doesn’t include a distribution that is rolled over (other than a repayment of a qualified disaster distribution (see 2019 Forms 8915-C and 8915-D)), qualified charitable distribution, one-time distribution to fund an HSA, conversion, recharacterization, or return of certain contributions.
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You or your spouse transferred all or part of their traditional, SEP, or SIMPLE IRA in 2019 to the other spouse under a divorce or separation agreement where the transfer resulted in a change in the basis of the traditional IRA of either spouse.
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You converted an amount from a traditional, SEP, or SIMPLE IRA to a Roth IRA in 2019.
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You received distributions from a Roth IRA in 2019 (other than a rollover, recharacterization, or return of certain contributions—see the instructions for Part III, later).
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You received a distribution from an inherited traditional IRA that has a basis, or you received a distribution from an inherited Roth IRA that wasn’t a qualified distribution. You may need to file more than one Form 8606. See IRA with basis under What if You Inherit an IRA? in Pub. 590-B for more information.
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