IRS Form 8606

After-Tax IRA Contributions, Distributions, Conversions at Tax Time

Friday, April 11, 2014
How do I tell IRS that my IRA distribution or Roth conversion is not taxable? We get this question fairly frequently at tax time - especially if the client has done a "backdoor" Roth conversion. Click to find the answer and more information on After-Tax IRA Contributions, Distributions, and Conversions at tax time.
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Detailing the Pro-Rata Rule

Thursday, December 05, 2013
For IRA distribution purposes, all IRAs (except Roth IRAs) are considered one big giant IRA. It doesn’t matter if you have one IRA that was rolled over from a former employer, and one SEP IRA with your current employer, and one contributory IRA where you put annual contributions, and one after-tax IRA where you put contributions for which you do not take a deduction. All four IRAs will be considered one IRA any time you take a distribution.
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Non-Deductible IRA Contributions: What You Need to Know

Monday, May 20, 2013
In order to make an IRA contribution, you must be younger than age 70 1/2 for the year and also have wages or compensation from your job. Once you make your IRA contribution, then you have to figure out whether it's tax deductible or not.
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Roth Conversions and the Pro-Rata Rule

Monday, April 22, 2013
For IRA distribution purposes, all IRAs (except Roth IRAs) are considered one big giant IRA. It doesn’t matter if you have one IRA that was rolled over from a former employer, and one SEP IRA with your current employer, and one contributory IRA where you put annual contributions, and one after-tax IRA where you put contributions for which you do not take a deduction. All four IRAs will be considered one IRA any time you take a distribution.
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