Form 8606 Annuity

rich25 — Wed, 13 Apr 2022 00:34:58 GMT

I had a traditional IRA that was mostly non-deductible that was converted to a Roth IRA in 2021. I had been tracking the non-deductible information on this IRA on form 8606.

In 2021, I rolled over a portion of employer sponsored retirement plan into Traditional IRA. Then, a portion of this traditional IRA was used to purchase an annuity. I received a 1099R from my employee sponsored retirement plan showing it as a qualified transfer to an IRA. I also received a 5498 for the annuity as well as one for the traditional IRA.

Box 6 on Form 8606 wants values of Traditional IRAs, Simple IRAs, etc. My question is, do I need to include the value of the Annuity in this number or just the value of the IRA that is remaining from the purchase of the annuity.

Re: Form 8606 Annuity

DanaB27 — Wed, 13 Apr 2022 12:43:14 GMT

Yes, IRA annuities are included in the value of all your traditional, SEP, and SIMPLE IRAs.

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Form 8606 Annuity

Re: Form 8606 Annuity