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January 26, 2025
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"Any Nondeductible Contributions to Yang's IRA?", does it mean all of your IRA accounts or the one used to convert to Roth IRA?

  • January 26, 2025
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I need to answer this question - "Any Nondeductible Contributions to Yang's IRA?"
    Best answer by dmertz

    It means all of your traditional IRAs.  Your basis in nondeductible traditional IRAs belongs to you, not to any particular one of your traditional IRAs.  All of your traditional IRAs are treated in aggregate as if they were one large IRA.

    1 reply

    dmertzAnswer
    Employee
    January 26, 2025

    It means all of your traditional IRAs.  Your basis in nondeductible traditional IRAs belongs to you, not to any particular one of your traditional IRAs.  All of your traditional IRAs are treated in aggregate as if they were one large IRA.