My wife and I have Roth IRAs we funded while working. The Roths are over 10 years old and we are in our 60s. I never reported anything to the IRS about the basis (Form 8606??), but since we are past the 5-year aging period and are over 59.5 this doesn't seem like an issue. This year we performed our first Roth conversion. I set up a separate Roth account for this, which probably wasn't necessary, but I felt it would let me keep better tabs on what we were converting. I understand we will receive a 1099-R for the Roth conversions and report this on our taxes. Other than the 1099-R, is there any other form that needs to be filled out and provided to the IRS to reflect our Roth accounts? Thanks.
Statistics: Posted by bikefish — Sun Aug 25, 2024 7:23 am — Replies 5 — Views 324