Form 8606 Nondeductible IRAs 2012

Summary: This is an example of Form 8606 (2012) 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
UnderPart I: Nondeductible Contributions to Traditional IRAs and Distributions From Traditional, SEP, and SIMPLE IRAs:
- 1. Enter your nondeductible contributions to traditional IRAs for 2012, including those made for 2012 from January 1, 2013, through April 15, 2013 (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, 2013 through April 15, 2013 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, 2012, plus any outstanding rollovers (see instructions) field contains 1,800
- 7. Enter your distributions from traditional, SEP, and SIMPLE IRAs in 2012. 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 2012 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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