If a recent retiree rollover a 401K to an IRA, and turn around and make a withdrawals can the rollover 401K funds be considered his basis on Form 8606?

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Only taxable contributions made to a 401(k) can be rolled over to an IRA. When the funds are withdrawn from the IRA they are still subject to tax - no basis.

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If a recent retiree rollover a 401K to an IRA, and turn around and make a withdrawals can the rollover 401K funds be considered his basis on Form 8606?

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If a recent retiree rollover a 401K to an IRA, and turn around and make a withdrawals can the rollover 401K funds be considered his basis on Form 8606?

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View/Select our Current List of Tax Topics

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