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How to determine basis of IRAs on form 8606 if no prior forms have been filed

Any suggestions on how to report/calculate basis in a situation where no form 8606 have been filed for ten years.  Traditional and Roth IRAs exist.   All Non-deductible contributions.  No distributions.  

 

For 2019, 8606 will be filed and a non-deductible contribution of $6,000 was made to Traditional IRA and rolled over to Roth.  Line 2 of form asks for basis, but no prior 8606 forms have been filed.


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1 Reply
DianeC958
Expert Alumni

How to determine basis of IRAs on form 8606 if no prior forms have been filed

You would need to know that information it is possible you could reconstruct your contributions with records from making the contributions.

 

For a Roth IRA there are no non-deductible contributions as Roth IRAs are funded with after tax dollars.

 

Link to What's the difference between a Traditional IRA and a Roth IRA

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