AICPA personal financial specialist Randy Abeles, CPA, explains when taxpayers must file Form 8606 - the form used to report nondeductible contributions made to traditional IRAs. Question: There are ...

In this Ask the Hammer, a reader raises the question: “Apparently, there's a great deal of confusion regarding the need to file Form 8606 to only report Roth conversion in a year when no other ...

If you have an individual retirement account, you need to get acquainted with IRS Form 8606 before filing your tax return this year. Failing to file a Form 8606 could result in a $50 penalty unless ...

This article, the second of a three-part series on how to implement an effective backdoor Roth strategy, was written by guest contributors Steven Jarvis, CPA, MBA, and Matthew Jarvis, CFP. Continuing ...

This article, the third of a three-part series on how to implement an effective backdoor Roth strategy, was written by guest contributors Steven Jarvis, CPA, MBA, and Matthew Jarvis, CFP. Once ...

Carol explained that she had rolled a 401(k) from a former job into a traditional IRA. Later, she began contributing to that IRA with after-tax money — without realizing that, unlike a Roth IRA, she ...

[Question]I am trying to figure out how much I'll owe in taxes when I roll over some money from my traditional IRA to a Roth. I made some nondeductible contributions to the IRA a while back, so some ...

Forbes contributors publish independent expert analyses and insights. I write about achieving wealth and how it intersects with our lives. This article is more than 6 years old. As the April 15 th tax ...

Do I need to fill out Form 8606? Jeffrey "The Buckinghammer" Levine of Buckingham Wealth Partners answers a reader question about when to fill out Form 8606 and why.