Search found 3 matches

by jfoster
Sat Jun 17, 2017 9:05 pm
Forum: Personal Finance (Not Investing)
Topic: Form 8606 not adding up
Replies: 9
Views: 949

Re: Form 8086 not adding up

Thanks for the clarification. Yes, the scenario I was presenting was an example, not an actual conversion. Although I do intend to complete a Roth conversion later, I wanted to just fill out a hypothetical 8086 so I could see exactly how it everything is calculated. When I did though, I didn't get t...
by jfoster
Sat Jun 17, 2017 5:10 pm
Forum: Personal Finance (Not Investing)
Topic: Form 8606 not adding up
Replies: 9
Views: 949

Re: Form 8086 not adding up

Yep. That worked. The taxable amount was exactly what would be expected. Thank you. I think I'm confusing basis with the principal of the tIRA. I don't know what the difference is though. If you have a second to explain it, that'd be great. If not, I'll keep searching so that I better understand. Th...
by jfoster
Sat Jun 17, 2017 2:47 pm
Forum: Personal Finance (Not Investing)
Topic: Form 8606 not adding up
Replies: 9
Views: 949

Form 8606 not adding up

Where am I going wrong here? I'm trying to convert a hypothetical traditional IRA with both pre and post-tax dollars to a Roth by filling out a hypothetical form 8086. The pro-rata calculation makes sense, but when I actually fill out the form, I don't get hit with pro-rata taxes, so I *must* be doi...