qbteachmt
Level 15
06-03-2021
01:52 PM
- Mark as New
- Bookmark
- Subscribe
- Permalink
- Report Inappropriate Content
I've had to file the Form 8606 with a corrected basis than a previous 8606.
If they made nondeductible contributions to Trad IRA and converted to Roth, you should want to compute the taxable amount of the conversion pro rata to their basis. This assumes the "not deducted" amount also was not from an employment arrangement as pre-taxed.
*******************************
Don't yell at us; we're volunteers
Don't yell at us; we're volunteers