Don't forget that the deposits made into nondeductible IRA accounts can be converted in 2010 to ROTH accounts, regardless of income restriction, with the tax liability on those funds taken out over 2010 and 2011.Humm, not bad, huh?Mz4 Not to hijack this thread, but above statement leads me to this question.I made nondeductible IRA contributions 10-20 years ago totaling $20,000.I have been taking MRD's for last 4-5 years and still have about $14,000 remaining as "Adjusted total basis in Traditional IRA". I would love to get rid of the yearly calculation and keeping track of Form 8606 basis.Is is correct that In 2010 I can move the remaining basis and place in a ROTH? If so, why would there a tax liability as stated above, since these were after tax dollars that were placed in the IRA?I would be happy if I could even withdraw the remaining basis and not put it in a ROTH just to avoid further tracking.Senior Citizen
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