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Financial Planning / Tax Strategies


Subject:  Re: Roth conversion Date:  1/23/2000  5:10 PM
Author:  TMFTaxes Number:  25828 of 127753

<<If you have a prior non-deductible IRA and convert it to an Roth IRA the form comes to you as all income on your tax form. What form do I use to so I don't pay taxes twice on the non-deductible portion?>>

Use IRS Form 8606 and follow the instructions carefully. If you do, you'll find that your prior traditional IRA contributions will not be taxable when you make your conversion.

I have an article about Form 8606 and how it works in the Taxes FAQ area. You might want to check it out.

TMF Taxes
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