Form 8606 Nondeductible IRAs 2010
Summary: This is an example of Form 8606 (2010) as pertains to
the description in the text. The line items completed are:
-
Name. If married, file a separate form for each spouse required
to file Form 8606. See page 5 of the instructions
field contains Bill King -
Your social security number
field contains 002-00-0000 - Under
Part I: Nondeductible Contributions to Traditional IRAs and
Distributions From Traditional, SEP, and SIMPLE IRAs
: -
-
1. Enter your nondeductible contributions to traditional IRAs
for 2010, including those made for 2010 from January 1, 2011, through April 18,
2011 (see page 5 of the instructions)
field contains 0 -
2. Enter your total basis in traditional IRAs (see page 6
of the instructions)
field contains 2,000 -
3. Add lines 1 and 2
field contains 2,000 -
4. Enter those contributions included on line 1 that were
made from January 1, 2011, through April 18, 2011
field contains 0 -
5. Subtract line 4 from line 3
field contains 2,000 -
6. Enter the value of all your traditional, SEP, and SIMPLE
IRAs as of December 31, 2010, plus any outstanding rollovers (see page 6 of the
instructions)
field contains 1,800 -
7. Enter your distributions from traditional, SEP, and SIMPLE
IRAs in 2010. Do not include rollovers, a one-time contribution to fund an HSA,
conversions to a Roth IRA, certain returned contributions, or
recharacterizations of traditional IRA. contributions (see page 6 of the
instructions)
field contains 600 -
9. Add lines 6, 7, and 8
field contains 2,400 -
10. Divide line 5 by line 9. Enter the result as a decimal
rounded to at least 3 places. If the result is 1.000 or more, enter 1.000
field contains .833 -
12. Multiply line 7 by line 10. This is the nontaxable portion
of your distributions that you did not convert to a Roth IRA.
field contains 500 -
13. Add lines 11 and 12. This is the nontaxable portion of
all your distributions
field contains 500 -
14. Subtract line 13 from line 3. This is your total basis
in traditional IRAs for 2010 and earlier years
field contains 1,500 -
15. Taxable amount. Subtract line 12 from line 7. If more than zero, also
include this amount on Form 1040, line 15b; Form 1040A, line 11b; or Form
1040NR, line 16b
field contains 100
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