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.

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

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 ...

I contributed for the first time to a traditional IRA in March of 2012 for the 2011 tax season since the IRS allows this. However, I did so after I filed my 2011 tax return. Do I need to send the IRS ...

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 ...

This is the time of year that many people make IRA contributions. When nondeductible contributions are made, they are recorded on Form 8606. These contributions are not taxed when distributed. The ...

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 ...