Important Notice: Our web hosting provider recently started charging us for additional visits, which was unexpected. In response, we're seeking donations. Depending on the situation, we may explore different monetization options for our Community and Expert Contributors. It's crucial to provide more returns for their expertise and offer more Expert Validated Answers or AI Validated Answers. Learn more about our hosting issue here.

Some of the contributions previously made to my traditional IRA account have been nondeductible contributions. How do I determine how much of my 2010 distributions are taxable?

April 26, 2017account contributions determine distributions nondeductible taxable Traditional IRA

0

Posted

Some of the contributions previously made to my traditional IRA account have been nondeductible contributions. How do I determine how much of my 2010 distributions are taxable?

1 Answer

0

Posted

A. In order to determine the taxable amount of your 2010 distributions received from your traditional IRA, you must complete Form 8606 (Nondeductible IRAs), Part I. Nondeductible contributions to a traditional IRA are also reportable on Form 8606, Part I.