Form 8606 Nondeductible IRAs 2011
Summary: This is an example of Form 8606 (2011) 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
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 2011, including those made for 2011 from January 1, 2012, through April 17, 2012 (see
instructions)
field contains 0 -
2. Enter your total basis in traditional IRAs (see 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, 2012, through April 17,
2012
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, 2011, plus any outstanding rollovers (see
instructions)
field contains 1,800 -
7. Enter your distributions from traditional, SEP, and SIMPLE IRAs in 2011. 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
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 2011 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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