Form 8606

Questions2684 — Wed, 24 Mar 2021 19:12:53 GMT

I made a few non deductible contributions to my IRA several years ago. I have been using Form 8606 to amortize that basis. Could I transfer that total basis balance from my traditional IRA to a Roth and forget about this Form 8606 for future years? Thank you.

Re: Form 8606

MinhT1 — Wed, 24 Mar 2021 19:30:05 GMT

No.

You cannot decide to rollover all your non-deductible contributions from your IRA to a Roth IRA.

When a traditional IRA balance is composed of deductible and nondeductible contributions, any amount distributed or converted from the traditional IRA is prorated to include a taxable and nontaxable portion of the assets.

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Form 8606

Re: Form 8606