Except there is no "if the answer is less than zero enter zero" qualifier for line 14, so by the instructions it should be -2.Now obviously my conversion shows a $0 basis left on line 14 which is accurate even though due to the rounding on the form it technically shows the non taxable amount was $12,502 when really it was $12,500. I am less concerned about this as it shows I have no basis left and the rounding is to my advantage here.
Yes. Not a problem at all.For my wifes 2024 form 8606 will she then just start with $1 of basis on line 2 even though there was $0 left in my wifes tIRA?
As todd suggested, rounding to four decimal places, 0.9988, would make both forms look "as expected".
Statistics: Posted by FiveK — Sat Feb 24, 2024 6:57 pm