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Backdoor Roth Conversion: IRA Basis

VAer — Sat, 01 Mar 2025 06:22:15 GMT

Could someone please explain more about IRA basis?

Thanks

https://www.irs.gov/pub/irs-pdf/f8606.pdf

Re: Backdoor Roth Conversion: IRA Basis

DanaB27 — Sat, 01 Mar 2025 11:38:30 GMT

This question is about your prior year basis in your traditional IRA and you will find this on you last filed Form 8606. Please see line 2 instructions for additional information.

You have basis in your traditional IRA if you made nondeductible contributions to your traditional IRA.

Re: Backdoor Roth Conversion: IRA Basis

VAer — Sat, 01 Mar 2025 16:11:22 GMT

Thanks.