form 8606
I did a conversion from a trad.IRA to a roth in 2009. I believe I have to file form 8606 to report this conversion this year. What I am confused about is whether I need to continue filing 8606 every year from now on. Do I need to? and if so why? any help is appreciated. Thanks
Permalink Submitted by Alan Spross on Sat, 2010-02-06 21:34
Yes, you need to report your 2009 conversion on Form 8606. After that, you will need an 8606 for any year you take a Roth distribution until your Roth is fully qualified. You also need one if you make a non deductible TIRA contribution, or take a TIRA distribution and you have a prior TIRA 8606 balance.