Few people would complain about receiving an inheritance, including one in the form of an IRA. However, if you do inherit the ...

Form 5498 documents individual retirement account (IRA) contributions, rollovers and distributions. You don’t need to fill it out or send it to the IRS — just keep it for your records.

The Roth IRA is an Individual Retirement Account created in the United States in 1997. Unlike the Traditional IRA, which ...

IRS Form 8606 is used when there are certain instances involving IRAs, including nondeductible contributions to traditional IRAs, distributions from Roth IRAs and Roth conversions.

Retirement expert Denise Appleby shares common pitfalls and real-life examples for IRAs, required minimum distributions, and ...

If you have an individual retirement account, you need to get acquainted with IRS Form 8606 before filing your tax return this year. Failing to file a Form 8606 could result in a $50 penalty unless ...

Form 8606 which reports after-tax amounts in traditional IRAs. That would be the form that you want to make sure is filed any time after-tax money goes into or out of a traditional IRA.

IRA basis is required to be tracked on IRS Form 8606, Nondeductible IRAs, which is filed with a client’s tax return. Form 8606 keeps a historical cumulative record of IRA basis, but the form is ...

Your 1099-R tells the IRS a story about your IRA distributions. But what if the story is not true? If a distribution was made from your IRA during 2024, your IRA custodian must send you a Form ...

Under the SECURE Act 2.0, the statute of limitations begins running when the Form 1040 is filed for the year the RMD was supposed to be taken, even if Form 5329 isn’t included with the 1040.

When to fill out Form 8606 for nondeductible contributions to IRAs. Forms for nondeductible contributions to IRAs, simplified.