The Motley Fool Discussion Boards

Previous Page

Financial Planning / Tax Strategies


Subject:  Re: Distribution of Non-deductible Contribution Date:  11/15/2012  1:43 PM
Author:  vkg Number:  116913 of 127643

You can't just withdraw/convert the non-deductible contribution to a TIRA.

The non-deductible contribution is reported on form 8606, and adds to your cost basis. You can convert any amount in your TIRA to a ROTH. The cost basis is pro-rated across the entire value of the TIRA.
Copyright 1996-2018 trademark and the "Fool" logo is a trademark of The Motley Fool, Inc. Contact Us