What tax form do I use to report nondeductible IRA contributions?
• If you have a nondeductible Individual Retirement Account (IRA), you must still report any contributions to it to the IRS by completing IRS Form 8606, Nondeductible IRAs (Contributions, Distributions, and Basis). You must also file Form 8606 if you have received IRA distributions during the tax year and you have ever made nondeductible contributions to any of your IRAs. A Form 8606 must be completed and filed with the IRS even if you don’t have to file a tax return for the year in question.
Related Questions
- This Form 5498 reports my IRA contributions through December 31, 2004. How will you report any 2004 contributions which I may make between January 1 and April 15, 2005?
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- What tax form do I use to report nondeductible IRA contributions?
