Karen Miranda
Mar 7 2002, 01:08 PM
Can I convert a nondeductible IRA to a ROTH IRA without also converting other 401k rollover IRA's to a ROTH IRA??
Will basis be just balance of nondeductible IRA's?
Mary Kay Foss
Mar 7 2002, 07:59 PM
When you convert an IRA to Roth it doesn't matter that all the funds transferred were from a Nondeductible IRA. All of the IRAs you own are considered as one; the dollar amount converted will be partially basis from the nondeductible IRAs (nontaxable) and partially earnings and deductible or pretax contributions. Form 8606 is used to make the calculation.