Do i enter 5500 or 0 for trad ira cost basis? i did not submit form 8606 in 2014 and i added 5500 this year to ira. contributed twice (2014 and 18). will send 14' 8606.
i believe i have to send in 8606 for year 14 and i will. not sure what to do for this year tax for cost basis, do i put a 0 even though this is my second contribution? No deductions were taken as my MAGI is high. (Nor distributions taken).
031359
3 Replies
jhansalia
New Member
Jun 4, 2019 5:22:07 PM
no deductions were taken as my MAGI is high.
Anita01
New Member
Jun 4, 2019 5:22:08 PM
Did you take a deduction in 2014 or now for the amount you contributed?