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Questions tagged [form-8606]

Form 8606 is the US Internal Revenue Service tax form for determining the taxable portion of any non-deductible contributions to, distributions from, or conversions between the various IRA types. This tag can be used for questions about filing Form 8606 with tax return Forms 1040 or 1040NR, or on its own if amending a prior year's Form 8606.

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Convert Traditional IRA to Roth IRA when income limits are not satisfied by Roth IRA?

Our household MAGI (Modified Adjusted Gross Income) does not allow us to contribute the full amount to a Roth IRA for 2010. In that case is converting some part of Traditional IRA to Roth to complete ...
5
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1answer
258 views

Any advantage to non-deductible Traditional IRA contibutions?

The typical comparison between Traditional and Roth IRAs goes roughly as follows: A traditional IRA allows you to invest pre-tax money into the account and it grows tax free. Once you withdraw the ...
2
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1answer
145 views

IRA - Back Door Conversion, Tax Filling - 1040, 8606 and 1099R

I contributed to Roth IRA Account in Jan-2016 for FY 2016 and again I contributed to Roth IRA account in Jan-2017 for FY-2017. When I was ready to file my tax return for 2016 in Feb-2017 I came to ...