Converting A Non-Deductible IRA Into A Roth
Can a client convert non-deductible traditional IRA contributions into a Roth IRA without tax consequences if they also have a pre-tax SEP IRA account? Are there any tax consequences?
Pre 87 And Post 86 After Tax Recovery Basis Rules
My client converted a 401(k) to a Roth in December of 2014. The amount in the 401(K) contains both Pre 87 & Post 86 after tax contributions. How do we figure out the taxable amount?
Reporting Prior Year Non-Deductible IRA Contributions
My client’s brokerage statement shows an IRA distribution of $13,000 on box 1 & box 2a. My client made a nondeductible contribution of $6,500 in March of 2014 for year 2013 and then made a nondeductible contribution for 2014 at the same time.