Yes!

As long as you have both nondeductible and deductible IRAs under your name, pro-rated tax cannot be avoided unless you can rollover the deductible IRAs (assuming you keep seperate account for both) to a 401k. Form 8606 has detailed calculations to take care of book keeping every year when you update your conversion from IRA to Roth using the new non-deductible to total IRAs ratio. Even you don't want to convert now, this ratio will be used for your RMD (72 year old) any way to figure out taxible amount, so you need to keep all of the IRA record until you completely empty your IRA, regardless you convert now or take distribution or RMD from your IRAs.

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• wow, thanks for your professional input!! -DoubleDelight- ♀ (0 bytes) () 02/11/2021 postreply 10:45:37