IRA Rollover - Part 30

Ira Rollover Form Irs

November 6th, 2010

Question: Is a 401k rollover to a traditional IRA considered a nondeductible contribution (IRS Form 8606 f8606)?

I recently rolled over my 401k from a former employer and a portion of the 401k was after tax. I am currently trying to complete form 8606, but am having a bit of trouble.

Let’s just say I rolled over $100K pretax and $20K after tax into my traditional IRA. Would I fill out form 8606 like this?

Line 1 – 100K for nondeductible contribution
Line 2 – 20K as basis

Is this correct?
Will TD Ameritrade help me fill out this form?

Answer: I absolutely agree with Jason. You are rolling over a substantial amount with someone who should know how that is done and should be willing to help you out with that.

And here’s a newsflash “happy” – Turbo tax is not going to tell you if you did it correctly.

7702 Private Plan