converting a non-deductible IRA contribution to a Roth IRA
When one spouse of a married couple filing jointly wishes to convert money from a non-deductible IRA to a Roth, is basis determined by looking at just Traditional IRA accounts in that one spouse’s name? Or must all Traditional IRA accounts under both spouse’s names be considered?
Permalink Submitted by Alan - IRA critic on Tue, 2020-09-01 16:22
Only the owned non Roth IRAs of the spouse that is converting. Conversions are reported on Form 8606 which are also individual forms for each taxpayer. They only show that one SSN.