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WCI #356: Navigating The Struggle To Financially Support Parents And Still Save The Way You Want To

White Coat Investor Podcast

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Navigating Form 8606 for Roth IRA Conversions

This chapter provides a detailed guide on filling out form 8606 for Roth IRA conversions, explaining the steps and calculations involved, with a focus on non-deductible contributions and basis in traditional IRAs. It stresses the importance of understanding the basis on line two and suggests making contributions and conversions in the same calendar year. The discussion also addresses the confusion regarding rollovers and conversions in relation to contribution limits for retirement plans.

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