#Good news! The IRS has extended the tax deadline to April 18th! As long as you submit your federal return by midnight on 4/18/2018, you won't be considered a late filer for your federal return. Direct debit tax payments that are submitted with your federal return (or on the IRS website) by 4/18 are also considered timely filed ×

What is Form 8606?

Form 8606 is the form used for:

  • Nondeductible contributions you made to traditional IRAs;
    Distributions from traditional, SEP, or SIMPLE IRAs, if you have ever made nondeductible contributions to traditional IRAs;
    Conversions from traditional, Simplified Employee Pension Plan (SEP), or Savings Incentive Match PLan for Employees (SIMPLE IRAs) to Roth IRAs; and
    Distributions from Roth IRAs

You’ll use form 8606 if all of the following apply:

  • You made nondeductible contributions to a traditional IRA for 2017, including a repayment of a qualified reservist distribution.
  • You received distributions from a traditional, SEP, or SIMPLE IRA in 2017 and your basis in traditional IRAs is more than zero. For this purpose, a distribution doesn’t include a rollover, qualified charitable distribution, one-time distribution to fund an HSA, conversion, recharacterization, or return of certain contributions.
  • You converted an amount from a traditional, SEP, or SIMPLE IRA to a Roth IRA in 2017 (unless you recharacterized the entire conversion)
    You received distributions from a Roth IRA in 2017 (other than a rollover, recharacterization, or return of certain contributions).
  • You received a distribution from an inherited traditional IRA that has basis, you transferred an inherited plan account to a Roth IRA, or you received a distribution from an inherited Roth IRA that wasn’t a qualified distribution.

You may need to file more than one Form 8606.

 

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