perinova
Full time employment: Posting here.
- Joined
- Apr 18, 2006
- Messages
- 534
I found a couple of old threads on this subject but I think the rules may have changed.
I was reading that you need to use form 8606 to track basis of a non deductible IRA but that you have to use the total of your IRAs (rollovers etc) to determine the tax free portion. This means that this will follow me for my whole retirement life unless I liquidate all IRAs.
What I am not sure about is: Is it still possible to do a Roth conversion of the non-deductible IRA? (The non deductible IRA is not yet commingled)
If this is not possible I don;t see a reason not to commingle it with the rest.
I was reading that you need to use form 8606 to track basis of a non deductible IRA but that you have to use the total of your IRAs (rollovers etc) to determine the tax free portion. This means that this will follow me for my whole retirement life unless I liquidate all IRAs.
What I am not sure about is: Is it still possible to do a Roth conversion of the non-deductible IRA? (The non deductible IRA is not yet commingled)
If this is not possible I don;t see a reason not to commingle it with the rest.