The Roth IRA was a truly groundbreaking retirement savings option when lawmakers created it almost 20 years ago. Yet for many taxpayers, the Roth IRA was off-limits due to income restrictions.

Individual Retirement Arrangements are designed to provide tax advantages to encourage us to save for retirement. Most IRA owners are familiar with their IRA account statements showing their current ...

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 ...

Q. When it comes to Form 8606, the form asks for the value of all your IRAs. Does that include Roth IRAs also? I have $10,000 in non-deductible IRAs for which I'm getting a small write-off. -- ...

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 ...

Who doesn’t appreciate tax-free investment growth, tax-free withdrawals and not having to take required minimum distributions ...

Even though the Roth contribution doesn't go anywhere on the tax return, most professional tax programs will keep track of the basis and update it each year. Many tax preparers are not aware of this ...