In which of the examples below is it important to track your investment basis in your IRA accounts?
1) Roth IRA
2) Traditional IRA (deductible)
3) Traditional IRA (non-deductible)
4) Rollover IRA (i.e. money you had invested in a 401K plan and then rolled into a separate rollover IRA)
5) SEP-IRA
6) Others?
And for those accounts where it is important to track your basis, when do you need to have that information? And what's the consequence if you don't have that information available when you need it?
I'm a little confused by this and figured that some experienced hands on this board have already figured this out. Thanks!
1) Roth IRA
2) Traditional IRA (deductible)
3) Traditional IRA (non-deductible)
4) Rollover IRA (i.e. money you had invested in a 401K plan and then rolled into a separate rollover IRA)
5) SEP-IRA
6) Others?
And for those accounts where it is important to track your basis, when do you need to have that information? And what's the consequence if you don't have that information available when you need it?
I'm a little confused by this and figured that some experienced hands on this board have already figured this out. Thanks!