The Motley Fool Discussion Boards
Financial Planning / Tax Strategies
|Subject: Re: Converted Just One of Two IRAs to a Roth||Date: 7/15/2013 7:24 PM|
|Author: IMBonzi||Number: 118868 of 123001|
TmfpMarti and VKG, thank you very much for your generous responses.
I have been away from my computer for several pleasant weeks and have just returned see if I will be able to fill out my 2013 Form 8606.
But first, to go back to one of your queries, I knew that there is no income limit for Roth conversions. So did the two TT helpers who plugged in my numbers on their computers and got the same error msg stating that my income was too high. The TT chaps each threw in the towel after several attempts.
“If you need some help with that [2013 8606] or would like confirmation that you've done it right, just holler.” I really appreciate this offer as the 8606 instruction sections on recharacterizations are beyond my comprehension.
Here are the approximate numbers I’m working with:
$5,000 - 2013 nondeductible contribution to traditional IRA
$5,500 - 2013 1099-R for the IRA distribution resulting