IRS Form 8606 | Ed Slott and Company, LLC

IRS Form 8606

4 Things to Know About Roth IRA Conversions and Pro-Rata Rule

Here are four details you need to know about IRA-to-Roth IRA conversions and the pro-rata rule. The pro-rata rule also applies to employer plan retirement plan distributions, but it is applied differently.

Will My Federal Estate Tax Exemption Transfer to My Spouse?

This week's Slott Report Mailbag, proudly sponsored by GoldCo Precious Metals, includes questions on concluding if the "age 55 rule" is applicable and understanding the transfer of the estate tax exemption.

Did Your Forget to Report Your 2014 IRA Contribution? Do It Now!

If you made a traditional IRA contribution for 2014, you should have reported it to the IRS. But what if you forgot? You should still report to to the IRS. Here's why.

12 Things You Must Know About 2015 IRA Contributions

In a way, it is now a new year for IRA contributions. You can no longer make IRA or Roth IRA contributions for 2014 (we warned you about the deadline). Here are 12 things to know about 2015 IRA contributions.

2 Roth Conversion Tax Scenarios: Communication is Key

Good communication with your tax preparer is essential to make sure that your tax return is prepared correctly. Take these 2 Roth conversion tax scenarios as the perfect illustration of the necessity to communicate.

After-Tax IRA Contributions, Distributions, Conversions at Tax Time

How do I tell IRS that my IRA distribution or Roth conversion is not taxable? We get this question fairly frequently at tax time - especially if the client has done a "backdoor" Roth conversion. Click to find the answer and more information on After-Tax IRA Contributions, Distributions, and Conversions at tax time.

Detailing the Pro-Rata Rule

For IRA distribution purposes, all IRAs (except Roth IRAs) are considered one big giant IRA. It doesn’t matter if you have one IRA that was rolled over from a former employer, and one SEP IRA with your current employer, and one contributory IRA where you put annual contributions, and one after-tax IRA where you put contributions for which you do not take a deduction. All four IRAs will be considered one IRA any time you take a distribution.

Non-Deductible IRA Contributions: What You Need to Know

In order to make an IRA contribution, you must be younger than age 70 1/2 for the year and also have wages or compensation from your job. Once you make your IRA contribution, then you have to figure out whether it's tax deductible or not.

Slott Report Mailbag: Can I Convert My Non-Deductible IRA Contributions to a Roth IRA?

IRA, tax, retirement planning questions
This week's Slott Report Mailbag discusses Roth IRA contributions, conversions and the availability of certain employer-sponsored retirement plans. Click to read a Q&A with our IRA Technical Expert.

Roth Conversions and the Pro-Rata Rule

For IRA distribution purposes, all IRAs (except Roth IRAs) are considered one big giant IRA. It doesn’t matter if you have one IRA that was rolled over from a former employer, and one SEP IRA with your current employer, and one contributory IRA where you put annual contributions, and one after-tax IRA where you put contributions for which you do not take a deduction. All four IRAs will be considered one IRA any time you take a distribution.

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