topic Is the year end value of Thrift Savings Plan entered into total traditional iras on Form 8606 to figure basis? in Retirement tax questions

Is the year end value of Thrift Savings Plan entered into total traditional iras on Form 8606 to figure basis?

deezapilot — Thu, 06 Jun 2019 00:41:56 GMT

Do I add all traditional iras no matter if they are annuities, stock accounts or the Thrift Savings Plan (traditional) for line 6 of 8606? The annuities were rolled over from the same Thrift Savings Plan

A TSP is not an IRA and does not get entered in the IRA s...

macuser_22 — Thu, 06 Jun 2019 00:41:57 GMT

A TSP is not an IRA and does not get entered in the IRA section and does not go on a 8606.

What do you mean the " annuities were rolled over" - roll...

macuser_22 — Thu, 06 Jun 2019 00:41:58 GMT

What do you mean the " annuities were rolled over" - rolled into what type of plan? Non-qualified annuities *cannot* be rolled into an IRA.

We rolled over direct from TSP to annuities that are also...

deezapilot — Thu, 06 Jun 2019 00:42:00 GMT

We rolled over direct from TSP to annuities that are also traditional iras.

If you rolled it into a Traditional IRA then, if you have...

macuser_22 — Thu, 06 Jun 2019 00:42:01 GMT

If you rolled it into a Traditional IRA then, if you have non-deductible contributions in any Traditional IRA, when it asks for the total 2016 year end value of *all* Traditional IRA's then add all Traditional IRA's, however, a Traditional TSP is not a Traditional IRA. A Traditional TSP can be rolled *into* a Traditional IRA by a trustee-to-trustee transfer and would probably be reported on a 1099-R with a code G in box 7.

You would only enter the total value of all existing Trad...

macuser_22 — Thu, 06 Jun 2019 00:42:02 GMT

You would only enter the total value of all existing Traditional IRA accounts as of Dec 31, 2016 if you took an IRA distribution and are entering a 1099-R form to report the distribution or make a Traditional IRA contribution.

A TSP is not an IRA.