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Q on value of Trad IRA's on Form 8606


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Guest skrambo
Posted

Question on what to enter on line 6 of Form 8606 (value of ALL Traditional IRA's).

I converted part of my Trad IRA to a Roth IRA. However, on 3/4/99 I contributed $2000 to a Trad IRA (a 1 yr Cert of Deposit at my bank).

Just got a statement from my bank saying:

current balance = 2000.00

accrued interest = 80.00

yr to date interest = -0-

fair mkt value on 12/31/99 = 2080.00

CD says "interest added at maturity", also says "interest calculated 365/365".

So what do I enter on line 6 Form 8606? (value of ALL Trad IRS's) Is this "accrued interest" included in the value if not paid until maturity?

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