Filling out 8606
Earlier this year I rolled my entire traditional IRA into my 401K. Since then I made a $6,000 after tax contribution to my traditional IRA. I then rolled my $6,000 into my Roth IRA. I find filling out the 8606 to be confusing for my situation. Can someone confirm $6,000 goes on lines 1,3,4,8,11,13,16, & 17. I have 1.0 for line 10, and zeros for all the other lines in parts 1 & 2 of the form. Is that correct?
Thanks in advance for the help.
Pete
Permalink Submitted by Alan - IRA critic on Fri, 2013-04-05 18:10
Assuming your contribution is for 2012, and you have no prior basis in your TIRA, the 6,000 goes on lines 1,3, and 14 only of your 2012 8606. Your conversion was apparently done in 2013.
Permalink Submitted by Pete Holzgang on Fri, 2013-04-05 19:12
OK now I am confused. Yes the conversion was done in 2013 but for 2012 tax year. Does that mean that I do not fill out Part 2? I just put 6,000 in blocks 1,3,14. sign and send the form? Now fast forward for filling out the form for next year assuming I place $6,5000 then roll it into the Roth prior to 1 Jan 14. What will it look like then?Thanks Pete