If I convert my traditional IRA to a Roth IRA, on what line of my 1040 do I report my initial contributions?

Answers

readytoretire answered a question in Tax Issues.
2222 points

readytoretire answered one year ago …

You need to go the the IRS website and get publication 590. It has worksheets in it to cover conversions. It looks like worksheet 1-5 would be where you would enter the initial contributions. This worksheet takes you to form 8606 (also in the pub). When you get to the bottom of it, you see if you need to report any amount as income on form 1040.

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alanj answered a question in Tax Issues.
2082 points

alanj answered 7 months ago …

I personally wouldn't change over. People who crunch numbers have determined that over the long term you are better off with a traditional IRA . Mainly, because of compounding and having more money in the account working for you.

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