IRS Form 8606

Retirement Plan Forms Used in Your Tax Return

Friday, March 15, 2013
IRS has announced that they are now processing all 2012 tax returns. Tax season is in full swing. What IRS forms might you need to file your tax return if you have any retirement plan transactions?
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Reminder From IRS: Don’t Forget Your 2010 Roth Conversion!

Friday, March 08, 2013
IRS recently issued a "friendly" reminder to taxpayers who did Roth conversions back in 2010 and took advantage of the two-year deal to split their conversion income equally between 2011 and 2012. IRS wants to be sure that those taxpayers do not "forget" to include the second half of their conversion on their 2012 tax returns.
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There is No Such Thing as a Non-Deductible IRA

Friday, October 05, 2012
I hear this a lot. "The contribution is to a non-deductible IRA." Or, "I have a non-deductible IRA." There is no such thing as a non-deductible IRA. There are non-deductible contributions made to an IRA. Think about it. Even if a contribution is made to a non-deductible IRA, it will not remain entirely non-deductible for long. There are some sort of earnings on the account – even if it is invested in a money market IRA. Would you make a contribution to an IRA that guaranteed no earnings for as long as you had any funds in the account?
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2011 IRA Contribution: It’s Not Too Late to Change Your Mind

Tuesday, July 24, 2012
Even though the 2011 tax season for most of us ended on April 17, 2012, some of us who made a timely IRA contribution for 2011 might have changed our mind on that IRA contribution. Specifically, some individuals who contributed to one type of IRA for last year may now want to change that contribution into a different type of IRA contribution.
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Discussion Forum Topic: Form 8606

Friday, August 14, 2009
This week, the Ed Slott IRA Discussion Forum featured multiple questions about IRS Form 8606. But what is this form and why is it so important? Read on to find out the Who, What, When, Where, Why and How of form 8606.
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After-Tax Money in an IRA

Wednesday, April 29, 2009
You have made after-tax contributions to your IRA or you have rolled over after-tax funds from your 401(k) or other employer plan to your IRA. How do you and the IRS know what is taxable when you take a distribution?
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