Form 8606

Forum|Forum|5 years ago
February 22, 2021
1 reply
6 views

I'm confused, on form 8606, line 6 should I include the value of ALL of my IRA's/401(k) rollovers or just the value of my non-deductible IRA's?

Best answer by DavidD66

You should include ALL of your IRAs (other than Roth IRAs) on Line 6 of Form 8606. That would include any 401(k) rollovers, and traditional IRAs, whether the contributions were tax deductibile or not.

DavidD66Answer

Level 15

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tom_gilbertAuthor

Level 2

Thanks for this. Just as a follow up, on line 2 of for 8606 then I should only include my non-deductible contributions as my "basis", right?

dmertz

Level 15

Line 2 is you basis from nondeductible traditional IRA contributions made for years prior to 2020. Any amount of traditional IRA contributions you made for 2020 should be on line 1, not included on line 2.