BobKamman
Level 15
02-09-2025
01:50 PM
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@qbteachmt wrote, "And once there are commingled funds, every conversion is not only partially taxable and partially not, but the partially Not Taxable amount is tracked, as it will reduce Basis. Then, the next conversion needs to take this updated Basis figure into consideration."
Exactly! And you get to charge them a higher fee for the rest of their lives, for completing and tracking the Form 8606.