How to value Roth conversion
HI Everyone,
In mid March of this year, I did a partial conversion of stocks from my Traditional IRA to my new Roth IRA.
How do I find/calculate the value of my stocks at the time of conversion so that I can use that to calculate taxes owed.
Thanks very much for your help.
Permalink Submitted by Alan - IRA critic on Sat, 2021-04-17 21:01
Check your 3/31/2021 TIRA statement to see what the distributed amount was. That should be the amount on your 1099R issued next January. However, if you have any basis in your IRA from non deductible contributions reported on Form 8606 in the past, you will have to work through the 8606 to determine how much of the distributed amount is actually taxable.
Permalink Submitted by Jane Gies on Tue, 2021-04-20 03:37
That was really helpful.