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2012 Instructions for Form 8606 - Internal Revenue Service

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2012 Instructions for Form 8606 - Internal Revenue Service Powered By Docstoc
					2012                                                                                                     Department of the Treasury
                                                                                                         Internal Revenue Service

Instructions for Form 8606
Nondeductible IRAs
Section references are to the Internal Revenue   to 90% of all airline payments received.     recharacterization, or return of certain
Code unless otherwise noted.                     Generally, the rollover contribution to      contributions.
                                                 the traditional IRA must be made within
General Instructions                             180 days from the date you received the      Note. If you made a QCD in January
                                                                                              2013, you can elect to treat it as if it was
                                                 airline payment, or before August 14,
                                                 2012, whichever is later. See                made in 2012. Additionally, any portion
Future Developments                              Publication 590, Individual Retirement       of a distribution from an IRA in
For the latest information about                 Arrangements (IRAs), for more                December 2012 contributed as cash (or
developments related to Form 8606 and            information.                                 cash equivalent) to a charity before
its instructions, such as legislation                                                         February 1, 2013, can be treated as a
enacted after they were published, go to         Purpose of Form                              QCD for 2012 if it meets certain
www.irs.gov/form8606.                                                                         requirements. See Pub. 590 for more
                                                 Use Form 8606 to report:
                                                                                              details.
What's New                                          Nondeductible contributions you
                                                 made to traditional IRAs;                       You converted an amount from a
Modified AGI limit for Roth IRA con­                                                          traditional, SEP, or SIMPLE IRA to a
                                                    Distributions from traditional, SEP, or
tributions increased. You can                                                                 Roth IRA in 2012 (unless you
                                                 SIMPLE IRAs, if you have ever made
contribute to a Roth IRA for 2012 only if                                                     recharacterized the entire
                                                 nondeductible contributions to
your 2012 modified adjusted gross                                                             conversion—see Recharacterizations,
                                                 traditional IRAs;
income (AGI) for Roth IRA purposes is                                                         later).
                                                    Conversions from traditional, SEP, or
less than:                                                                                       You received distributions from a
                                                 SIMPLE IRAs to Roth IRAs; and
   $183,000 if married filing jointly or                                                      Roth IRA in 2012 (other than a rollover,
                                                    Distributions from Roth IRAs.
qualifying widow(er),                                                                         recharacterization, or return of certain
                                                 Additional information. See Pub. 590         contributions—see the instructions for
   $125,000 if single, head of
                                                 for more details on IRAs.                    Part III, later).
household, or married filing separately
and you did not live with your spouse at                                                         You made a repayment of a qualified
                                                           If you received distributions
any time in 2012, or                                                                          disaster recovery assistance distribution
                                                  TIP      from a traditional, SEP, or
   $10,000 if married filing separately                                                       that is attributable to previously
                                                           SIMPLE IRA in 2012 and you
and you lived with your spouse at any                                                         nondeductible contributions.
                                                 have never made nondeductible
time in 2012.                                    contributions (including nontaxable             You received a distribution from an
See Roth IRAs, later.                            amounts you rolled over from a qualified     inherited Roth IRA that was not a
                                                 retirement plan) to traditional IRAs, do     qualified distribution or from an inherited
Qualified charitable distributions                                                            traditional IRA that has basis or you
(QCD). The provision that excludes up            not report the distributions on Form
                                                 8606. Instead, see the instructions for      rolled over an inherited plan account to
to $100,000 of qualified charitable                                                           a Roth IRA. You may need to file more
distributions (QCD) from income has              Form 1040, lines 15a and 15b; Form
                                                 1040A, lines 11a and 11b; or Form            than one Form 8606; see Pub. 590 for
been extended. You can elect to treat a                                                       more information.
QCD made in January 2013 as if it was            1040NR, lines 16a and 16b. Also, to find
made in 2012. Additionally, any portion          out if any of your contributions to          Note. If you recharacterized a 2012
of a distribution from an IRA in                 traditional IRAs are deductible, see the     Roth IRA contribution as a traditional
December 2012 contributed as cash (or            instructions for Form 1040, line 32;         IRA contribution, or vice versa, treat the
cash equivalent) to a charity before             Form 1040A, line 17; or Form 1040NR,         contribution as having been made to the
February 1, 2013, can be treated as a            line 32.                                     second IRA, not the first IRA. See
QCD for 2012 if it meets certain                                                              Recharacterizations, later.
requirements. See Pub. 590 for more              Who Must File                                       You do not have to file Form
information.                                     File Form 8606 if any of the following
                                                                                               TIP   8606 solely to report regular
Airline payments. On February 14,                apply.                                              contributions to Roth IRAs. But
2012, the FAA Modernization and                     You made nondeductible                    see What Records Must I Keep, later.
Reform Act was signed into law. This             contributions to a traditional IRA for
new law allows qualified airline                 2012, including a repayment of a
employees to roll over up to 90% of all          qualified reservist distribution.            When and Where To File
airline payments received to a traditional          You received distributions from a         File Form 8606 with your 2012 Form
IRA. It would also allow qualified airline       traditional, SEP, or SIMPLE IRA in 2012      1040, 1040A, or 1040NR by the due
employees who previously rolled over             and your basis in traditional IRAs is        date, including extensions, of your
any airline payments to a Roth IRA to            more than zero. For this purpose, a          return.
transfer a portion of the rollover               distribution does not include a rollover,
                                                 qualified charitable distributions (see          If you are not required to file an
contribution (including any allocable
                                                 note below), one-time distribution to        income tax return but are required to file
income or (loss)) as a rollover
                                                 fund an HSA, conversion,                     Form 8606, sign Form 8606 and send it
contribution to a traditional IRA, limited
                                                                                              to the Internal Revenue Service at the

Jan 15, 2013                                                  Cat. No. 25399E
same time and place you would                Roth IRAs                                        2. Adding the following.
otherwise file Form 1040, 1040A, or          A Roth IRA is similar to a traditional IRA,      a. IRA deduction from Form 1040,
1040NR. Be sure to include your              but has the following features.               line 32; Form 1040A, line 17; or Form
address on page 1 of the form and your                                                     1040NR, line 32.
                                                 Contributions are never deductible.
signature and the date on page 2 of the
                                                 Contributions can be made after the          b. Student loan interest deduction
form.
                                             owner reaches age 701 2.                      from Form 1040, line 33; Form 1040A,
                                                 No minimum distributions are              line 18; or Form 1040NR, line 33.
Definitions                                  required during the Roth IRA owner's             c. Tuition and fees deduction from
Deemed IRAs                                  lifetime.                                     Form 1040, line 34; or Form 1040A,
A qualified employer plan (retirement            Qualified distributions are not           line 19.
plan) can maintain a separate account        includible in income.
                                                                                              d. Domestic production activities
or annuity under the plan (a deemed          Qualified distribution. Generally, a          deduction from Form 1040, line 35; or
IRA) to receive voluntary employee           qualified distribution is any distribution    Form 1040NR, line 34.
contributions. If in 2012 you had a          made:                                            e. Exclusion of interest from Form
deemed IRA, use the rules for either a                                                     8815, Exclusion of Interest From Series
traditional IRA or a Roth IRA depending        On or after age 591 2,
                                               Upon death,                                 EE and I U.S. Savings Bonds Issued
on which type it was. See Pub. 590 for                                                     After 1989.
more details.                                  Due to disability, or
                                               For qualified first-time homebuyer             f. Exclusion of employer-provided
Traditional IRAs                             expenses.                                     adoption benefits from Form 8839,
For purposes of Form 8606, a traditional                                                   Qualified Adoption Expenses.
IRA is an individual retirement account          Exception. Any distribution made
                                                                                              g. Foreign earned income exclusion
or an individual retirement annuity other    during the 5-year period beginning with
                                                                                           from Form 2555, Foreign Earned
than a SEP, SIMPLE, or Roth IRA.             the first year for which you made a Roth
                                                                                           Income, or Form 2555-EZ, Foreign
                                             IRA contribution or conversion (rollover
Contributions. An overall contribution                                                     Earned Income Exclusion.
                                             in the case of a qualified retirement
limit applies to traditional IRAs and Roth   plan) is not a qualified distribution, and       h. Foreign housing exclusion or
IRAs. See Overall Contribution Limit for     may be taxable.                               deduction from Form 2555.
Traditional and Roth IRAs, later.
                                             Contributions. You can contribute to a                  When figuring modified AGI for
Contributions to a traditional IRA may be
                                             Roth IRA for 2012 only if your 2012              !      Roth IRA purposes, you may
fully deductible, partially deductible, or
                                             modified adjusted gross income (AGI)                    have to refigure items based on
completely nondeductible.
                                                                                            CAUTION

                                             for Roth IRA purposes is less than:           modified AGI, such as taxable social
Basis. Your basis in traditional IRAs is        $10,000 if married filing separately       security benefits and passive activity
the total of all your nondeductible          and you lived with your spouse at any         losses allowed under the special
contributions and nontaxable amounts         time in 2012,                                 allowance for rental real estate
included in rollovers made to traditional       $183,000 if married filing jointly or      activities. See Can You Contribute to a
IRAs minus the total of all your             qualifying widow(er), or                      Roth IRA? in Pub. 590 for details.
nontaxable distributions, adjusted if           $125,000 if single, head of
necessary (see the instructions for          household, or if married filing separately    Distributions. See the instructions for
line 2, later).                              and you did not live with your spouse at      Part III, later.
          Keep track of your basis to        any time in 2012.                             Overall Contribution Limit for
  !       figure the nontaxable part of         Use the Maximum Roth IRA                   Traditional and Roth IRAs
CAUTION   your future distributions.         Contribution Worksheet on the next            If you are not married filing jointly, your
                                             page to figure the maximum amount you         limit on contributions to traditional and
SEP IRAs                                     can contribute to a Roth IRA for 2012. If     Roth IRAs is generally the smaller of
A simplified employee pension (SEP) is       you are married filing jointly, complete      $5,000 ($6,000 if age 50 or older at the
an employer-sponsored plan under             the worksheet separately for you and          end of 2012) or your taxable
which an employer can make                   your spouse.                                  compensation (defined later). If you are
contributions to traditional IRAs for its              If you contributed too much,        married filing jointly, your contribution
employees. If you make contributions to                see Recharacterizations, later.     limit is generally $5,000 ($6,000 if age
that IRA (excluding employer                    !
                                             CAUTION                                       50 or older at the end of 2012) and your
contributions you make if you are                                                          spouse's contribution limit is $5,000
self-employed), they are treated as          Modified AGI for Roth IRA purposes.           ($6,000 if age 50 or older at the end of
contributions to a traditional IRA and       First, figure your AGI ( Form 1040,           2012) as well. But if the combined
may be deductible or nondeductible.          line 38; Form 1040A, line 22; or Form         taxable compensation of both you and
SEP IRA distributions are reported in        1040NR, line 37). Then, refigure it by:       your spouse is less than $10,000
the same manner as traditional IRA              1. Subtracting the following.              ($11,000 if one spouse is 50 or older at
distributions.                                  a. Roth IRA conversions included           the end of 2012; $12,000 if both
SIMPLE IRAs                                  on Form 1040, line 15b; Form 1040A,           spouses are 50 or older at the end of
                                             line 11b; or Form 1040NR, line 16b.           2012), see Pub. 590 for special rules.
Your participation in your employer's                                                      This limit does not apply to employer
SIMPLE IRA plan does not prevent you            b. Roth IRA rollovers from qualified
                                                                                           contributions to a SEP or SIMPLE IRA.
from making contributions to a               retirement plans included on Form
traditional or Roth IRA.                     1040, line 16b; Form 1040A, line 12b; or      Note. Rollovers, Roth IRA conversions,
                                             Form 1040NR, line 17b.                        Roth IRA rollovers from qualified

                                                                 ­2­                              Instructions for Form 8606 (2012)
retirement plans, and repayments of                                partner), taxable compensation is your                                (see Amending Form 8606, later). Write
qualified disaster recovery assistance                             net earnings from your trade or business                              “Filed pursuant to section 301.9100-2”
and qualified reservist distributions do                           (provided your personal services are a                                on the amended return.
not affect your contribution limit.                                material income-producing factor)
                                                                                                                                         Reporting recharacterizations. Any
                                                                   reduced by your deduction for
        The amount you can contribute                                                                                                    recharacterized conversion or Roth IRA
                                                                   contributions made on your behalf to
  !     to a Roth IRA may also be                                                                                                        rollover from a qualified retirement plan
                                                                   retirement plans and the deductible part
        limited by your modified AGI                                                                                                     will be treated as though the conversion
                                                                   of your self-employment tax.
CAUTION

(see Contributions, earlier, and the                                                                                                     or rollover had not occurred. Any
                                                                      Alimony and separate maintenance.                                  recharacterized contribution will be
Maximum Roth IRA Contribution
Worksheet, later).                                                      See Pub. 590 for details.                                        treated as having been originally
                                                                                                                                         contributed to the second IRA, not the
Taxable compensation. Taxable                                      Recharacterizations                                                   first IRA. The amount transferred must
compensation includes the following.                               Generally, you can recharacterize                                     include related earnings or be reduced
   Wages, salaries, tips, etc. If you                              (correct) an IRA contribution, Roth IRA                               by any loss. In most cases, the related
received a distribution from a                                     conversion, or a Roth IRA rollover from                               earnings that you must transfer are
nonqualified deferred compensation                                 a qualified retirement plan by making a                               figured by your IRA trustee or custodian.
plan or nongovernmental section 457                                trustee-to-trustee transfer from one IRA                              If you need to figure the related
plan that is included in Form W-2, box 1,                          to another type of IRA.                                               earnings, see How Do You
or in Form 1099-MISC, box 7, do not                                Trustee-to-trustee transfers are made                                 Recharacterize a Contribution? in Pub.
include that distribution in taxable                               directly between financial institutions or                            590. Any earnings or loss that occurred
compensation. The distribution should                              within the same financial institution. You                            in the first IRA will be treated as having
be shown in (a) Form W-2, box 11, (b)                              generally must make the transfer by the                               occurred in the second IRA. You cannot
Form W-2, box 12, with code Z, or (c)                              due date of your return (including                                    deduct any loss that occurred while the
Form 1099-MISC, box 15b. If it is not,                             extensions) and reflect it on your return.                            funds were in the first IRA. Also, you
contact your employer for the amount of                            However, if you timely filed your return                              cannot take a deduction for a
the distribution.                                                  without making the transfer, you can                                  contribution to a traditional IRA if the
   Nontaxable combat pay if you were a                             make the transfer within 6 months of the                              amount is later recharacterized. The
member of the U.S. Armed Forces.                                   due date of your return, excluding                                    following discussion explains how to
   Self-employment income. If you are                              extensions. If necessary, file an                                     report the four different types of
self-employed (a sole proprietor or a                              amended return reflecting the transfer                                recharacterizations, including the


Maximum Roth IRA Contribution Worksheet                                                                                                                  Keep for Your Records
 Caution: If married filing jointly and the combined taxable compensation (defined on this page) for you and your
 spouse is less than $10,000 ($11,000 if one spouse is 50 or older at the end of 2012; $12,000 if both spouses are 50
 or older at the end of 2012), do not use this worksheet. Instead, see Pub. 590 for special rules.
      1. If married filing jointly, enter $5,000 ($6,000 if age 50 or older at the end of 2012). All
         others, enter the smaller of $5,000 ($6,000 if age 50 or older at the end of 2012) or
         your taxable compensation (defined on this page) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .                                        1.
      2. Enter your total contributions to traditional IRAs for 2012 . . . . . . . . . . . . . . . . . . . . . . . . .                                         2.
      3. Subtract line 2 from line 1 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .                 3.
      4. Enter: $183,000 if married filing jointly or qualifying widow(er); $10,000 if married
         filing separately and you lived with your spouse at any time in 2012. All others, enter
         $125,000 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .      4.
      5. Enter your modified AGI for Roth IRA purposes (discussed earlier) . . . . . . . . . . . . . . .                                                       5.
    6. Subtract line 5 from line 4. If zero or less, stop here; you may not contribute to a
       Roth IRA for 2012. See Recharacterizations, earlier, if you made Roth IRA
       contributions for 2012 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .                  6.
    7. If line 4 above is $125,000, enter $15,000; otherwise, enter $10,000. If line 6 is more
       than or equal to line 7, skip lines 8 and 9 and enter the amount from line 3 on
       line 10 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .     7.
    8. Divide line 6 by line 7 and enter the result as a decimal (rounded to at least 3
       places). If the result is 1.000 or more, enter 1.000 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .                                      8.
    9. Multiply line 1 by line 8. If the result is not a multiple of $10, increase it to the next
       multiple of $10 (for example, increase $490.30 to $500). Enter the result, but not
       less than $200 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .            9.
   10. Maximum 2012 Roth IRA Contribution. Enter the smaller of line 3 or line 9. See
       Recharacterizations, earlier, if you contributed more than this amount to Roth
       IRAs for 2012 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .          10.

Instructions for Form 8606 (2012)                                                                 ­3­
statement that must be attached to your       explaining the recharacterization. If the           Example. You are single, covered by
return explaining the recharacterization.     recharacterization occurred in 2012,            a retirement plan, and you contributed
     1. You converted an amount from a        include the amount transferred from the         $4,000 to a new Roth IRA on June 16,
traditional, SEP, or SIMPLE IRA to a          traditional IRA on Form 1040, line 15a;         2012. On December 29, 2012, you
Roth IRA in 2012 and later                    Form 1040A, line 11a; or Form 1040NR,           determine that your 2012 modified AGI
recharacterized all or part of the amount     line 16a. If the recharacterization             will allow a full traditional IRA deduction.
back to a traditional, SEP, or SIMPLE         occurred in 2013, report the amount             You decide to recharacterize the Roth
IRA. If you only recharacterized part of      transferred only in the attached                IRA contribution as a traditional IRA
the amount converted, report the              statement.                                      contribution and have $4,200, the
amount not recharacterized on Form                Example. You are single, covered by         balance in the Roth IRA account
8606. If you recharacterized the entire       a retirement plan, and you contributed          ($4,000 contribution plus $200 related
amount, do not report the                     $4,000 to a new traditional IRA on May          earnings), transferred from your Roth
recharacterization on Form 8606. In           27, 2012. On February 24, 2013, you             IRA to a traditional IRA in a
either case, attach a statement to your       determine that your 2012 modified AGI           trustee-to-trustee transfer. You deduct
return explaining the recharacterization      will limit your traditional IRA deduction       the $4,000 traditional IRA contribution
and include the amount converted from         to $1,000. The value of your traditional        on Form 1040. You are not required to
the traditional, SEP, or SIMPLE IRA in        IRA on that date is $4,400. You decide          file Form 8606, but you must attach a
the total on Form 1040, line 15a; Form        to recharacterize $3,000 of the                 statement to your return explaining the
1040A, line 11a; or Form 1040NR,              traditional IRA contribution as a Roth          recharacterization. The statement
line 16a. If the recharacterization           IRA contribution, and have $3,300               indicates that you contributed $4,000 to
occurred in 2012, also include the            ($3,000 contribution plus $300 related          a new Roth IRA on June 16, 2012;
amount transferred back from the Roth         earnings) transferred from your                 recharacterized that contribution on
IRA on that line. If the recharacterization   traditional IRA to a Roth IRA in a              December 29, 2012, by transferring
occurred in 2013, report the amount           trustee-to-trustee transfer. You deduct         $4,200, the balance in the Roth IRA, to
transferred only in the attached              the $1,000 traditional IRA contribution         a traditional IRA in a trustee-to-trustee
statement, and not on your 2012 or            on Form 1040. You are not required to           transfer; and that $4,000 of the
2013 tax return (a 2013 Form 1099-R           file Form 8606, but you must attach a           traditional IRA contribution is deducted
should be sent to you by January 31,          statement to your return explaining the         on Form 1040. You include the $4,200
2014, stating that you made a                 recharacterization. The statement               distribution on your 2012 Form 1040,
recharacterization of an amount               indicates that you contributed $4,000 to        line 15a.
converted in the prior year).                 a traditional IRA on May 27, 2012;                  4. You rolled over an amount from a
     Example. You are married filing          recharacterized $3,000 of that                  qualified retirement plan to a Roth IRA
jointly and converted $20,000 from your       contribution on February 24, 2013, by           in 2012 and later recharacterized all or
traditional IRA to a new Roth IRA on          transferring $3,000 plus $300 of related        part of the amount to a traditional IRA. If
May 20, 2012. On April 7, 2013, you           earnings from your traditional IRA to a         you only recharacterized part of the
decide to recharacterize the conversion.      Roth IRA in a trustee-to-trustee transfer;      amount rolled over, report the amount
The value of the Roth IRA on that date is     and that all $1,000 of the remaining            not recharacterized on Form 8606. If
$19,000. You recharacterize the               traditional IRA contribution is deducted        you recharacterized the entire amount,
conversion by transferring that entire        on Form 1040. You do not report the             do not report the recharacterization on
amount to a traditional IRA in a              $3,300 distribution from your traditional       Form 8606. In either case, attach a
trustee-to-trustee transfer. You report       IRA on your 2012 Form 1040 because              statement to your return explaining the
$20,000 on Form 1040, line 15a. You do        the distribution occurred in 2013. You          recharacterization and include the
not include the $19,000 on line 15a           do not report the distribution on your          amount of the original rollover on Form
because it did not occur in 2012 (you         2013 Form 1040 because the                      1040, line 16a; Form 1040A, line 12a; or
also do not report that amount on your        recharacterization related to 2012 and          Form 1040NR, line 17a. If the
2013 return because it does not apply to      was explained in an attachment to your          recharacterization occurred in 2012,
the 2013 tax year). You attach a              2012 return.                                    also include the amount transferred
statement to Form 1040 explaining that            3. You made a contribution to a             from the Roth IRA on Form 1040,
(a) you made a conversion of $20,000          Roth IRA and later recharacterized part         line 15a; Form 1040A, line 11a; or Form
from a traditional IRA on May 20, 2012,       or all of it to a traditional IRA. Report the   1040NR, line 16a. If the
and (b) you recharacterized the entire        nondeductible traditional IRA portion, if       recharacterization occurred in 2013,
amount, which was then valued at              any, on Form 8606, Part I. If you did not       report the amount transferred only in the
$19,000, back to a traditional IRA on         recharacterize the entire contribution,         attached statement, and not on your
April 7, 2013.                                do not report the remaining Roth IRA            2012 or 2013 tax return (a 2013 Form
                                              portion of the contribution on Form             1099-R should be sent to you by
     2. You made a contribution to a                                                          January 31, 2014, stating that you made
traditional IRA and later recharacterized     8606. Attach a statement to your return
                                              explaining the recharacterization. If the       a recharacterization of an amount in the
part or all of it to a Roth IRA. If you                                                       prior year).
recharacterized only part of the              recharacterization occurred in 2012,
contribution, report the nondeductible        include the amount transferred from the             Example. You are single and you
traditional IRA portion of the remaining      Roth IRA on Form 1040, line 15a; Form           rolled over $50,000 from your 401(k)
contribution, if any, on Form 8606, Part      1040A, line 11a; or Form 1040NR,                plan to a new Roth IRA on July 20,
I. If you recharacterized the entire          line 16a. If the recharacterization             2012. On March 25, 2013, you decide to
contribution, do not report the               occurred in 2013, report the amount             recharacterize the rollover. The value of
contribution on Form 8606. In either          transferred only in the attached                the Roth IRA on that date is $49,000.
case, attach a statement to your return       statement, and not on your 2012 or              You recharacterize the rollover by
                                              2013 tax return.                                transferring that entire amount to a

                                                                   ­4­                              Instructions for Form 8606 (2012)
traditional IRA in a trustee-to-trustee        reflecting that the withdrawn                distribution was made earlier, see
transfer. You report $50,000 on Form           contributions are no longer treated as       Return of IRA Contributions, earlier).
1040, line 16a. You do not include the         having been contributed).                        2. The total contributions (excluding
$49,000 on line 15a because it did not                                                      rollovers) to your traditional and SEP
occur in 2012 (you also do not report             In most cases, the related earnings
                                               that you must withdraw are figured by        IRAs for the year for which the excess
that amount on your 2013 return                                                             contribution was made did not exceed:
because it does not apply to the 2013          your IRA trustee or custodian. If you
tax year). You are not required to file        need to figure the related earnings on           a. $5,000 ($6,000 if age 50 or older
Form 8606, but you must attach a               IRA contributions that were returned to      at the end of the year) for years after
statement to Form 1040 explaining that         you, see Contributions Returned Before       2007 and before 2012,
(a) you made a rollover of $50,000 from        Due Date of Return in Pub. 590. If you           b. $4,000 ($5,000 if age 50 or older
a 401(k) plan to a Roth IRA on July 20,        made a contribution or distribution while    at the end of the year) for 2006 or 2007,
2012, and (b) you recharacterized the          the IRA held the returned contribution,
                                               see Pub. 590.                                    c. $4,000 ($4,500 if age 50 or older
entire amount, which was then valued at                                                     at the end of the year) for 2005,
$49,000, to a traditional IRA on March            If you made a contribution for 2011           d. $3,000 ($3,500 if age 50 or older
25, 2013.                                      and you had it returned to you in 2012       at the end of the year) for years after
                                               as described above, do not report the        2001 and before 2005,
Return of IRA                                  distribution on your 2012 tax return.
                                                                                                e. $2,000 for years after 1996 and
Contributions                                  Instead, report it on your 2011 original
                                                                                            before 2002, or
If, in 2012 or 2013, you made traditional      or amended return in the manner
                                               described above.                                 f. $2,250 for years before 1997.
IRA contributions or Roth IRA
contributions for 2012 and you had                Example. On May 28, 2012, you                If your total IRA contributions for the
those contributions returned to you with       contributed $4,000 to your traditional       year included employer contributions to
any related earnings (or minus any loss)       IRA. The value of the IRA was $18,000        a SEP IRA, increase the $5,000
by the due date (including extensions)         prior to the contribution. On December       ($6,000, if applicable), $4,000 ($5,000
of your 2012 tax return, the returned          29, 2012, when you are age 57 and the        or $4,500, if applicable), $3,000
contributions are treated as if they were      value of the IRA is $23,600, you realize     ($3,500, if applicable), $2,000, or
never contributed. Do not report the           you cannot make the entire contribution      $2,250 by the smaller of the employer
contribution or distribution on Form           because your taxable compensation for        contributions or $50,000 ($49,000 for
8606 or take a deduction for the               the year will be only $3,000. You decide     2009 to 2011, $46,000 for 2008,
contribution. However, you must report         to have $1,000 of the contribution           $45,000 for 2007, $44,000 for 2006,
a distribution that was contributed in         returned to you and withdraw $1,073          $42,000 for 2005, $41,000 for 2004,
2012 and any related earnings on your          from your IRA ($1,000 contribution plus      $40,000 for 2003 and 2002, $35,000 for
2012 Form 1040, lines 15a and 15b;             $73 earnings). You did not make any          2001, or $30,000 for years before
Form 1040A, lines 11a and 11b; or              other withdrawals or contributions. You      2001).
Form 1040NR, lines 16a and 16b.                are not required to file Form 8606. You         3. No deduction was allowable
Attach a statement explaining the              deduct the $3,000 remaining                  (without regard to the modified AGI
distribution. You cannot deduct any loss       contribution on Form 1040. You include       limitation) or taken for the excess
that occurred (see Pub. 590 for an             $1,073 on Form 1040, line 15a, and $73       contributions.
exception if you withdrew the entire           on line 15b. You attach a statement to
amount in all your traditional or Roth         your tax return explaining the                  Include the total amount distributed
IRAs). Also, if you were under age 591 2       distribution. Because you properly           on Form 1040, line 15a; Form 1040A,
at the time of a distribution with related     removed the excess contribution with         line 11a; or Form 1040NR, line 16a; and
earnings, you generally are subject to         the related earnings by the due date of      attach a statement to your return
the additional 10% tax on early                your tax return, you are not subject to      explaining the distribution. See the
distributions (see Form 5329, Additional       the additional 6% tax on excess              example below.
Taxes on Qualified Plans (Including            contributions, reported on Form 5329.
IRAs) and Other Tax-Favored                                                                     If you meet these conditions and are
                                               However, because you were under age
Accounts).                                                                                  otherwise required to file Form 8606:
                                               591 2 at the time of the distribution, the
                                                                                               Do not take into account the amount
    If you timely filed your 2012 tax return   $73 of earnings is subject to the
                                                                                            of the withdrawn contributions in figuring
without withdrawing a contribution that        additional 10% tax on early
                                                                                            line 2, and
you made in 2012, you can still have the       distributions. You include $7.30 on
                                               Form 1040, line 58.                             Do not include the amount of the
contribution returned to you within 6                                                       withdrawn contributions on line 7.
months of the due date of your 2012 tax
return, excluding extensions. If you do,       Return of Excess                                Example. You are single, you retired
file an amended return with “Filed             Traditional IRA                              in 2009, and you had no taxable
                                                                                            compensation after 2009. However, you
pursuant to section 301.9100-2” written        Contributions                                made traditional IRA contributions (that
at the top. Report any related earnings        The return (distribution) in 2012 of
on the amended return and include an                                                        you did not deduct) of $3,000 in 2010
                                               excess traditional IRA contributions for     and $4,000 in 2011. In November 2012,
explanation of the withdrawal. Make any        years prior to 2012 is not taxable if all
other necessary changes on the                                                              a tax practitioner informed you that you
                                               three of the following apply.                had made excess contributions for
amended return (for example, if you
reported the contributions as excess              1. The distribution was made after        those years because you had no
contributions on your original return,         the due date, including extensions, of       taxable compensation. You withdrew
include an amended Form 5329                   your tax return for the year for which the   the $7,000 and filed amended returns
                                               contribution was made (if the                for 2010 and 2011 reflecting the

Instructions for Form 8606 (2012)                                 ­5­
additional 6% tax on excess                     Forms 5498 or similar statements you          Do not include on line 1 contributions
contributions on Form 5329. You              received each year showing                    that you had returned to you with the
include the $7,000 distribution on your      contributions you made to a traditional       related earnings (or less any loss). See
2012 Form 1040, line 15a, enter -0- on       IRA or Roth IRA.                              Return of IRA Contributions, earlier.
line 15b, and attach a statement to your        Forms 5498 or similar statements you
return explaining the distribution,                                                        Line 2
                                             received showing the value of your
including the fact that you filed            traditional IRAs for each year you            If this is the first year you are required to
amended returns for 2010 and 2011 and        received a distribution.                      file Form 8606, enter -0-. Otherwise, use
paid the additional 6% tax on the excess        Forms 1099-R or W-2P you received          the chart on this page to find the amount
contributions for those years. The           for each year you received a                  to enter on line 2.
statement indicates that the distribution    distribution.                                     However, if you are required to file
is not taxable because (a) it was made                                                     this year, you may need to enter an
after the due dates of your 2010 and         Note. Forms 1040-T and W-2P are               amount other than -0- or adjust the
2011 tax returns, including extensions,      forms that were used in prior years.          amount from the chart if your basis
(b) your total IRA contributions for each                                                  changed because of any of the
year did not exceed $5,000 ($6,000 if
age 50 or older at the end of the year),     Specific Instructions                         following.
                                                                                              You had a return of excess traditional
and (c) you did not take a deduction for                                                   IRA contributions (see Return of Excess
                                             Name and social security number
the contributions, and no deduction was                                                    Traditional IRA Contributions, earlier).
                                             (SSN). If you file a joint return, enter
allowable because you did not have any                                                        Incident to divorce, you transferred or
                                             only the name and SSN of the spouse
taxable compensation for those years.                                                      received part or all of a traditional IRA
                                             whose information is being reported on
The statement also indicates that the                                                      (see the last bulleted item under Line 7,
                                             Form 8606. If both you and your spouse
distribution reduced your excess                                                           later).
                                             are required to file Form 8606, file a
contributions to -0-, as reflected on your                                                    You rolled over any nontaxable
                                             separate Form 8606 for each of you.
2012 Form 5329.                                                                            portion of your qualified retirement plan
Amending Form 8606                           Part I—Nondeductible                          to a traditional or SEP IRA that was not
                                                                                           previously reported on Form 8606,
After you file your return, you can          Contributions to                              line 2. Include the nontaxable portion on
change a nondeductible contribution to       Traditional IRAs and                          line 2.
a traditional IRA to a deductible            Distributions From
contribution or vice versa. You also may
be able to make a recharacterization
                                             Traditional, SEP, and                          IF the last Form
                                                                                            8606 you filed was
                                                                                                                  THEN enter on
                                                                                                                  line 2...
(discussed earlier). If necessary,           SIMPLE IRAs                                    for...
complete a new Form 8606 showing the
revised information and file it with Form
                                             Line 1                                         A year after 2000 and The amount from
                                                                                            before 2012           line 14 of that Form
1040X, Amended U.S. Individual               If you used the IRA Deduction
                                                                                                                  8606
Income Tax Return.                           Worksheet in the Form 1040, 1040NR,
                                             or 1040A instructions, subtract line 12        A year after 1992 and The amount from
Penalty for Not Filing                       (line 10 for Form 1040A) of the                before 2001           line 12 of that Form
                                                                                                                  8606
                                             worksheet (or the amount you chose to
If you are required to file Form 8606 to
                                             deduct on Form 1040 or Form 1040NR,            A year after 1988 and The amount from
report a nondeductible contribution to a
                                             line 32, or Form 1040A, line 17, if less)      before 1993           line 14 of that Form
traditional IRA for 2012, but do not do
                                             from the smaller of line 10 or line 11                               8606
so, you must pay a $50 penalty, unless
                                             (line 8 or line 9 for Form 1040A) of the
you can show reasonable cause.                                                              1988                  The total of the
                                             worksheet. Enter the result on line 1 of                             amounts on lines 7
                                             Form 8606. You cannot deduct the
Overstatement Penalty                        amount included on line 1.
                                                                                                                  and 16 of that Form
                                                                                                                  8606
If you overstate your nondeductible
contributions, you must pay a $100              If you used the worksheet Figuring          1987                  The total of the
penalty, unless you can show                                                                                      amounts on lines 4
                                             Your Reduced IRA Deduction for 2012
reasonable cause.                                                                                                 and 13 of that Form
                                             in Pub. 590, enter on line 1 of Form
                                                                                                                  8606
                                             8606 any nondeductible contributions
What Records Must I                          from the appropriate lines of that
Keep?                                        worksheet.                                    Line 4
To verify the nontaxable part of               If you did not have any deductible          If you made contributions to traditional
distributions from your IRAs, including      contributions, you can make                   IRAs for 2012 in 2012 and 2013 and you
Roth IRAs, keep a copy of the following      nondeductible contributions up to your        have both deductible and nondeductible
forms and records until all distributions    contribution limit. Enter on line 1 of Form   contributions, you can choose to treat
are made.                                    8606 your nondeductible contributions.        the contributions made in 2012 first as
   Page 1 of Forms 1040 (or Forms                                                          nondeductible contributions and then as
1040A, 1040NR, or 1040-T) filed for             Include on line 1 any repayment of a       deductible contributions, or vice versa.
each year you made a nondeductible           qualified reservist distribution. Also,          Example. You made contributions
contribution to a traditional IRA.           include any repayment of a qualified          for 2012 of $2,000 in May 2012 and
   Forms 8606 and any supporting             disaster recovery assistance distribution     $2,000 in January 2013, of which
statements, attachments, and                 that is attributable to previously            $3,000 are deductible and $1,000 are
worksheets for all applicable years.         nondeductible contributions.                  nondeductible. You choose $1,000 of

                                                                 ­6­                               Instructions for Form 8606 (2012)
your contribution in 2012 to be               Line 7                                         separation agreement is not taxable to
nondeductible. You enter the $1,000 on                                                       you or your spouse. If this transfer
line 1, but not line 4, and it becomes                 If you received a distribution in     results in a change in the basis of the
part of your basis for 2012.                     !     2012 from a traditional, SEP, or      traditional IRA of either spouse, both
                                                       SIMPLE IRA, and you also              spouses must file Form 8606 and show
   Although the contributions to
                                               CAUTION

                                              made contributions for 2012 to a               the increase or decrease in the amount
traditional IRAs for 2012 that you made       traditional IRA that may not be fully
from January 1, 2013, through April 15,                                                      of basis on line 2. Attach a statement
                                              deductible because of the income limits,       explaining this adjustment. Include in
2013, can be treated as nondeductible,        you must make a special computation
they are not included in figuring the                                                        the statement the character of the
                                              before completing the rest of this form.       amounts in the traditional IRA, such as
nontaxable part of any distributions you      For details, including how to complete
received in 2012.                                                                            the amount attributable to
                                              Form 8606, see Are Distributions               nondeductible contributions. Also,
Line 6                                        Taxable? in chapter 1 of Pub. 590.             include the name and social security
Enter the total value of all your             Do not include any of the following on         number of the other spouse.
traditional, SEP, and SIMPLE IRAs as of       line 7.                                        Line 8
December 31, 2012, plus any                      Distributions that you converted to a
outstanding rollovers. A statement                                                           If, in 2012, you converted any amounts
                                              Roth IRA.
should be sent to you by January 31,                                                         from traditional, SEP, or SIMPLE IRAs
                                                 Recharacterizations.                        to a Roth IRA, enter on line 8 the net
2013, showing the value of each IRA on           Distributions that you rolled over by
December 31, 2012. However, if you                                                           amount you converted. To figure that
                                              December 31, 2012, and any                     amount, subtract from the total amount
recharacterized any amounts, enter on         outstanding rollovers included on
line 6 the total value, taking into account                                                  converted in 2012 any portion that you
                                              line 6.                                        recharacterized back to traditional, SEP,
all recharacterizations, including               Distributions you rolled over to a
recharacterizations made after                                                               or SIMPLE IRAs in 2012 or 2013 (see
                                              qualified retirement plan.                     Recharacterizations, earlier). Do not
December 31, 2012.                               A one-time distribution to fund an          take into account related earnings that
   For line 6, a rollover is a tax-free       HSA. For details, see Pub. 969, Health         were transferred with the
distribution from one traditional, SEP, or    Savings Accounts and Other                     recharacterized amount or any loss that
SIMPLE IRA that is contributed to             Tax-Favored Health Plans.                      occurred while the amount was in the
another traditional, SEP, or SIMPLE              Distributions that are treated as a         Roth IRA. See item 1 under Reporting
IRA. The rollover must be completed           return of contributions under Return of        recharacterizations, earlier, for details.
within 60 days of receiving the               IRA Contributions, earlier.
distribution from the first IRA. An              Qualified charitable distributions          Line 15
outstanding rollover is any amount            (QCD) (see note below). For details,           If you were under age 591 2 at the time
distributed in 2012 after November 1,         see Pub. 590.                                  you received distributions from your
2012, that was rolled over in 2013, but                                                      traditional, SEP, or SIMPLE IRA, there
within the 60-day rollover period.            Note. If you made a QCD in January             generally is an additional 10% tax on the
   The IRS may waive the 60-day               2013, you can elect to treat it as if it was   portion of the distribution that is
requirement if failing to waive it would      made in 2012. Additionally, any portion        included in income (25% for a
be against equity or good conscience,         of a distribution from an IRA in               distribution from a SIMPLE IRA during
such as situations where a casualty,          December 2012 contributed as cash (or          the first 2 years). See the instructions for
disaster, or other events beyond your         cash equivalent) to a charity before           Form 1040, line 58, or the instructions
reasonable control prevented you from         February 1, 2013, can be treated as a          for Form 1040NR, line 56.
meeting the 60-day requirement. Also,         QCD for 2012 if it meets certain
the 60-day period may be extended if          requirements.                                  Part II—2012 Conversions
                                                 Distributions that are treated as a
you had a frozen deposit. See Pub. 590
                                              return of excess contributions under
                                                                                             From Traditional, SEP, or
for details.                                                                                 SIMPLE IRAs to Roth IRAs
                                              Return of Excess Traditional IRA
         You must reduce the amounts          Contributions, earlier.                        Complete Part II if you converted part or
  !      entered on line 6 by the                Distributions of excess contributions       all of your traditional, SEP, or SIMPLE
 CAUTION following:                           due to incorrect rollover information. If      IRAs to a Roth IRA in 2012, excluding
   Any qualified charitable distributions     an excess contribution in your traditional     any portion you recharacterized. See
(QCD) you made in January 2013 that           IRA is the result of a rollover from a         item 1 under Reporting
you are electing to treat as made in          qualified retirement plan and the excess       recharacterizations, earlier, for details.
2012.                                         occurred because the information the           Limit on number of conversions. If
   Any portion of a distribution from an      plan was required to give you was              you converted an amount from a
IRA in December 2012 contributed as           incorrect, the distribution of the excess      traditional, SEP, or SIMPLE IRA to a
cash (or cash equivalent) to a charity        contribution is not taxable. Attach a          Roth IRA in 2012 and then
before February 1, 2013, can be treated       statement to your return explaining the        recharacterized the amount back to a
as a QCD for 2012 if it meets certain         distribution and include the amount of         traditional, SEP, or SIMPLE IRA, you
requirements.                                 the distribution on Form 1040, line 15a;       cannot reconvert that amount until the
See Pub. 590 for more details.                Form 1040A, line 11a; or Form 1040NR,          later of January 1, 2013, or 30 days after
                                              line 16a. See Pub. 590 for more details.       the recharacterization. See Pub. 590 for
Note. Do not include a rollover from a           Distributions that are incident to          details.
traditional, SEP, or SIMPLE IRA to a          divorce. The transfer of part or all of
qualified retirement plan even if it was      your traditional, SEP, or SIMPLE IRA to
an outstanding rollover.                      your spouse under a divorce or

Instructions for Form 8606 (2012)                                 ­7­
Line 16                                           If, after considering the items above,     Line 23
If you did not complete line 8, see the        you do not have an amount to enter on         Generally, there is an additional 10% tax
instructions for that line. Then, enter on     line 19, do not complete Part III; your       on 2012 distributions from a Roth IRA
line 16 the amount you would have              Roth IRA distribution(s) is not taxable.      that are shown on line 23. The
entered on line 8 had you completed it.        Instead, include your total Roth IRA          additional tax is figured on Form 5329,
                                               distribution(s) on Form 1040, line 15a;       Part I. See the instructions for Form
Line 17                                        Form 1040A, line 11a; or Form 1040NR,         5329, line 1, for details and exceptions.
If you did not complete line 11, enter on      line 16a.
line 17 the amount from line 2 (or the                                                       Line 24
                                               Line 20
amount you would have entered on                                                             Figure the amount to enter on line 24 as
line 2 if you had completed that line)         If you had a qualified first-time             follows.
plus any contributions included on line 1      homebuyer distribution from your Roth
                                                                                                If you have never made a Roth IRA
that you made before the conversion.           IRA and you made a contribution
                                                                                             conversion or rolled over an amount
                                               (including a conversion) to a Roth IRA
                                                                                             from a qualified retirement plan to a
                                               for 2007 or an earlier year, enter the
Part III—Distributions                         amount of your qualified expenses on
                                                                                             Roth IRA, enter -0- on line 24.
From Roth IRAs                                 line 20, but do not enter more than
                                                                                                If you took a Roth IRA distribution
                                                                                             (other than an amount rolled over or
Complete Part III to figure the taxable        $10,000.
                                                                                             recharacterized or a returned
part, if any, of your 2012 Roth IRA
distributions.                                 Line 22                                       contribution) before 2012 in excess of
                                               Figure the amount to enter on line 22 as      your basis in regular Roth IRA
Note. See your tax return instructions         follows.                                      contributions, see the Basis in Roth IRA
or Pub. 590 if in 2010 you converted or           If you did not take a Roth IRA             Conversions and Rollovers From
rolled over amounts to your Roth IRA           distribution before 2012 (other than an       Qualified Retirement Plans to Roth
and you spread the income over 2011            amount rolled over or recharacterized or      IRAs - Line 24 chart, later to figure the
and 2012.                                      a returned contribution), enter on line 22    amount to enter on line 24.
                                               the total of all your regular contributions      If you did not take such a distribution
Line 19                                                                                      before 2012, enter on line 24 the total of
                                               to Roth IRAs for 1998 through 2012
Do not include on line 19 any of the           (excluding rollovers from other Roth          all your conversions to Roth IRAs (other
following.                                     IRAs and any contributions that you had       than amounts recharacterized). These
    Distributions that you rolled over,        returned to you), adjusted for any            amounts are shown on line 14c of your
including distributions made in 2012 and       recharacterizations.                          1998, 1999, and 2000 Forms 8606 and
rolled over after December 31, 2012               If you did take such a distribution        line 16 of your 2001 through 2012
(outstanding rollovers).                       before 2012, see the Basis in Regular         Forms 8606. Also include on line 24 any
    Recharacterizations.                       Roth IRA Contributions - Line 22 chart,       amounts rolled over from a qualified
    Distributions that are a return of         later to figure the amount to enter.          retirement plan to a Roth IRA for 2008,
contributions under Return of IRA                 Increase the amount on line 22 by          2009, 2011, and 2012 reported on your
Contributions, earlier.                        any amount rolled in from a designated        Form 1040, Form 1040A, or Form
    Distributions made on or after age 59      Roth account that is treated as               1040NR, and line 21 of your 2010 Form
1
  2 if you made a contribution (including a
                                               investment in the contract.                   8606.
conversion) for 2007 or an earlier year.          Increase or decrease the amount on            Increase or decrease the amount on
                                               line 22 by any basis transferred or           line 24 by any basis transferred or
  A one-time distribution to fund an                                                         received incident to divorce. Also attach
HSA. For details, see Pub. 969.                received incident to divorce. Also attach
                                               a statement similar to the one explained      a statement similar to the one explained
  Qualified charitable distributions                                                         in the last bulleted item under Line 7,
(QCD) (see note below). For details,           in the last bulleted item under Line 7,
                                               earlier.                                      earlier.
see Pub. 590.
                                                  Increase the amount on line 22 by the      Privacy Act and Paperwork Reduc­
Note. If you made a QCD in January             amounts received as a military gratuity       tion Act Notice. We ask for the
2013, you can elect to treat it as if it was   or SGLI payment that was rolled over to       information on this form to carry out the
made in 2012. Additionally, any portion        your Roth IRA.                                Internal Revenue laws of the United
of a distribution from an IRA in                  Increase the amount on line 22 by          States. We need this information to
December 2012 contributed as cash (or          any amount received as qualified              ensure that you are complying with
cash equivalent) to a charity before           settlement income in connection with          these laws and to allow us to figure and
February 1, 2013, can be treated as a          the Exxon Valdez litigation and rolled        collect the right amount of tax. You are
QCD for 2012 if it meets certain               over to your Roth IRA.                        required to give us this information if you
requirements.                                     Increase the amount on line 22 by          made certain contributions or received
   Distributions made upon death or due        any “airline payments” you received as a      certain distributions from qualified plans,
to disability if you made a contribution       result of your employment with an airline     including IRAs and other tax-favored
(including a conversion) for 2007 or an        that you rolled over to your Roth IRA.        accounts. Our legal right to ask for the
earlier year.                                  However, do not include the amounts           information requested on this form is
   Distributions that are incident to          attributable to airline payments that you     sections 6001, 6011, 6012(a), and 6109
divorce. The transfer of part or all of        transferred from a Roth IRA to a              and their regulations. If you do not
your Roth IRA to your spouse under a           traditional IRA because of the FAA            provide this information, or you provide
divorce or separation agreement is not         Modernization and Reform Act of 2012.         incomplete or false information, you
taxable to you or your spouse.                 See Publication 590 for more                  may be subject to penalties.
                                               information.


                                                                  ­8­                              Instructions for Form 8606 (2012)
   You are not required to provide the        the information to the Department of            The average time and expenses
information requested on a form that is       Justice for civil and criminal litigation,   required to complete and file this form
subject to the Paperwork Reduction Act        and to cities, states, the District of       will vary depending on individual
unless the form displays a valid OMB          Columbia, and U.S. commonwealths             circumstances. For the estimated
control number. Books or records              and possessions to carry out their tax       averages, see the instructions for your
relating to a form or its instructions must   laws. We may also disclose this              income tax return.
be retained as long as their contents         information to other countries under a
may become material in the                    tax treaty, to federal and state agencies       If you have suggestions for making
administration of any Internal Revenue        to enforce federal nontax criminal laws,     this form simpler, we would be happy to
law. Generally, tax returns and return        or to federal law enforcement and            hear from you. See the instructions for
information are confidential, as required     intelligence agencies to combat              your income tax return.
by section 6103. However, we may give         terrorism.




Instructions for Form 8606 (2012)                                 ­9­
Basis in Regular Roth IRA Contributions—Line 22

IF the most recent year prior to 2012 THEN enter on Form 8606, line 22, this PLUS the total of all your regular
in which you took a Roth IRA          amount...                              contributions2 to Roth IRAs for...
distribution was...
            1


                2011                               The excess of your 2011 Form 8606,                             2012
 (you had an amount on your 2011 Form            line 22, over line 19 of that Form 8606.
             8606, line 19)
                 2010                              The excess of your 2010 Form 8606,                        2011 and 2012
 (you had an amount on your 2010 Form             line 29, over line 26 of that Form 8606.
              8606, line 26)
                 2009                              The excess of your 2009 Form 8606,                      2010 through 2012
 (you had an amount on your 2009 Form             line 22, over line 19 of that Form 8606.
              8606, line 19)
                 2008                              The excess of your 2008 Form 8606,                      2009 through 2012
 (you had an amount on your 2008 Form             line 22, over line 19 of that Form 8606.
              8606, line 19)
                 2007                              The excess of your 2007 Form 8606,                      2008 through 2012
 (you had an amount on your 2007 Form             line 22, over line 19 of that Form 8606.
              8606, line 19)
                 2006                              The excess of your 2006 Form 8606,                      2007 through 2012
 (you had an amount on your 2006 Form             line 22, over line 19 of that Form 8606.
              8606, line 19)
                 2005                              The excess of your 2005 Form 8606,                      2006 through 2012
 (you had an amount on your 2005 Form             line 22, over line 19 of that Form 8606.
              8606, line 19)
                 2004                              The excess of your 2004 Form 8606,                      2005 through 2012
 (you had an amount on your 2004 Form             line 22, over line 19 of that Form 8606.
              8606, line 19)
                 2003                              The excess of your 2003 Form 8606,                      2004 through 2012
 (you had an amount on your 2003 Form             line 20, over line 19 of that Form 8606.
              8606, line 19)
                 2002                              The excess of your 2002 Form 8606,                      2003 through 2012
 (you had an amount on your 2002 Form             line 20, over line 19 of that Form 8606.
              8606, line 19)
                 2001                              The excess of your 2001 Form 8606,                      2002 through 2012
 (you had an amount on your 2001 Form             line 20, over line 19 of that Form 8606.
              8606, line 19)
                2000                               The excess of your 2000 Form 8606,                      2001 through 2012
 (you had an amount on your 2000 Form            line 18d, over line 17 of that Form 8606.
             8606, line 17)
                1999                               The excess of your 1999 Form 8606,                      2000 through 2012
 (you had an amount on your 1999 Form            line 18d, over line 17 of that Form 8606.
             8606, line 17)
                1998                               The excess of your 1998 Form 8606,                      1999 through 2012
 (you had an amount on your 1998 Form            line 19c, over line 18 of that Form 8606.
             8606, line 18)
  Did not take a Roth IRA distribution1                               $0                                   1998 through 2012
              prior to 2012
1. Excluding rollovers, recharacterizations, and contributions that you had returned to you.
2. Excluding rollovers, conversions, Roth IRA contributions that were recharacterized, and any contributions that you had returned to you.




                                                                    ­10­                              Instructions for Form 8606 (2012)
Basis in Roth IRA Conversions and Rollovers From Qualified Retirement Plans to
Roth IRAs—Line 24

IF the most recent year prior to 2012 in which THEN enter on Form 8606, line 24, this amount...                                PLUS the sum of the amounts on the
you had a distribution1 in excess of your                                                                                      following lines...
basis in contributions was...
                        2011                                  The excess, if any, of your 2011 Form 8606, line 24, over           Line 16 of your 2012 Form 8606 and
   (your 2011 Form 8606, line 22, was less than                               line 232 of that Form 8606.                       certain rollovers3 reported on your 2012
            line 19 of that Form 8606)                                                                                                          tax return.
                                                                                                                                 Line 16 of your 2011 and 2012 Forms
                                                                                                                                8606 and certain rollovers3 reported on
                                                              The excess, if any, of your 2010 Form 8606, line 31, over              your 2011 and 2012 tax returns,
                        2010                                                  line 30 of that Form 8606                                            OR
   (your 2010 Form 8606, line 29, was less than                                                                                   Line 16 of your 2011 and 2012 Forms
            line 26 of that Form 8606)                         (refigure line 30 without taking into account any amount        8606; lines 16 and 21 of your 2010 Form
                                                                             entered on Form 8606, line 27).                   86064 if you did not check the boxes on
                                                                                                                                lines 19 or 24 of your 2010 Form 8606;
                                                                                                                                and certain rollovers3 reported on your
                                                                                                                                       2011 and 2012 tax returns.

                        2009                                  The excess, if any, of your 2009 Form 8606, line 24, over        Line 16 of your 2010 through 2012 Forms
   (your 2009 Form 8606, line 22, was less than                               line 23 2 of that Form 8606.                      8606; line 21 of your 2010 Form 86064;
            line 19 of that Form 8606)                                                                                           and certain rollovers3 reported on your
                                                                                                                                      2011 and 2012 tax returns.

                        2008                                  The excess, if any, of your 2008 Form 8606, line 24, over        Line 16 of your 2009 through 2012 Forms
   (your 2008 Form 8606, line 22, was less than                               line 23 2 of that Form 8606.                      8606; line 21 of your 2010 Form 86064;
            line 19 of that Form 8606)                                                                                           and certain rollovers3 reported on your
                                                                                                                                   2009, 2011, and 2012 tax returns.
                                                              The excess, if any, of your 2007 Form 8606, line 24, over           Line 16 of your 2008 through 2012
                        2007                                                  line 23 2 of that Form 8606.                      Forms 8606; line 21 of your 2010 Form
   (your 2007 Form 8606, line 22, was less than                                                                                86064; and certain rollovers3 reported on
            line 19 of that Form 8606)                                                                                           your 2008, 2009, 2011, and 2012 tax
                                                                                                                                               returns.
                                                              The excess, if any, of your 2006 Form 8606, line 24, over           Line 16 of your 2007 through 2012
                        2006                                                  line 23 2 of that Form 8606.                      Forms 8606; line 21 of your 2010 Form
   (your 2006 Form 8606, line 22, was less than                                                                                86064; and certain rollovers3 reported on
            line 19 of that Form 8606)                                                                                           your 2008, 2009, 2011, and 2012 tax
                                                                                                                                               returns.
                                                              The excess, if any, of your 2005 Form 8606, line 24, over           Line 16 of your 2006 through 2012
                        2005                                                  line 23 2 of that Form 8606.                      Forms 8606; line 21 of your 2010 Form
   (your 2005 Form 8606, line 22, was less than                                                                                86064; and certain rollovers3 reported on
            line 19 of that Form 8606)                                                                                           your 2008, 2009, 2011, and 2012 tax
                                                                                                                                               returns.
                                                              The excess, if any, of your 2004 Form 8606, line 24, over           Line 16 of your 2005 through 2012
                        2004                                                  line 23 2 of that Form 8606.                      Forms 8606; line 21 of your 2010 Form
   (your 2004 Form 8606, line 22, was less than                                                                                86064; and certain rollovers3 reported on
            line 19 of that Form 8606)                                                                                           your 2008, 2009, 2011, and 2012 tax
                                                                                                                                               returns.
                                                              The excess, if any, of your 2003 Form 8606, line 22, over           Line 16 of your 2004 through 2012
                     2003                                                     line 21 of that Form 8606.                        Forms 8606; line 21 of your 2010 Form
  (you had an amount on your 2003 Form 8606,                                                                                   86064; and certain rollovers3 reported on
                   line 21)                                                                                                      your 2008, 2009, 2011, and 2012 tax
                                                                                                                                               returns.
                                                              The excess, if any, of your 2002 Form 8606, line 22, over           Line 16 of your 2003 through 2012
                     2002                                                     line 21 of that Form 8606.                        Forms 8606; line 21 of your 2010 Form
  (you had an amount on your 2002 Form 8606,                                                                                   86064; and certain rollovers3 reported on
                   line 21)                                                                                                      your 2008, 2009, 2011, and 2012 tax
                                                                                                                                               returns.
                                                              The excess, if any, of your 2001 Form 8606, line 22, over           Line 16 of your 2002 through 2012
                     2001                                                     line 21 of that Form 8606.                        Forms 8606; line 21 of your 2010 Form
  (you had an amount on your 2001 Form 8606,                                                                                   86064; and certain rollovers3 reported on
                   line 21)                                                                                                      your 2008, 2009, 2011, and 2012 tax
                                                                                                                                               returns.
                                                                                                                                  Line 16 of your 2001 through 2012
                     2000                                     The excess, if any, of your 2000 Form 8606, line 25, over         Forms 8606; line 21 of your 2010 Form
  (you had an amount on your 2000 Form 8606,                                  line 19 of that Form 8606.                       86064; and certain rollovers3 reported on
                   line 19)                                                                                                      your 2008, 2009, 2011, and 2012 tax
                                                                                                                                               returns.
                                                                                                                               Line 16 of your 2001 through 2012 Forms
                     1999                                     The excess, if any, of your 1999 Form 8606, line 25, over         8606; line 21 of your 2010 Form 86064;
  (you had an amount on your 1999 Form 8606,                                  line 19 of that Form 8606.                         line 14c of your 2000 Form 8606; and
                   line 19)                                                                                                    certain rollovers3 reported on your 2008,
                                                                                                                                    2009, 2011, and 2012 tax returns.
                                                                                                                                  Line 14c of your 1999 through 2000
                     1998                                                                                                      Forms 8606; line 16 of your 2001 through
  (you had an amount on your 1998 Form 8606,                 The excess, if any, of your 1998 Form 8606, line 14c, over          2012 Forms 8606; line 21 of your 2010
                   line 20)                                                   line 20 of that Form 8606.                           Form 86064; and certain rollovers3
                                                                                                                                reported on your 2008, 2009, 2011, and
                                                                                                                                           2012 tax returns.
                                                                                                                                  Line 14c of your 1998 through 2000
                                                                                                                               Forms 8606, line 16 of your 2001 through
 Did not have such a distribution in excess of your                 The amount from your 2012 Form 8606, line 16                 2011 Forms 8606, and line 21 of your
               basis in contributions                                                                                          2010 Form 8606 4; and certain rollovers3
                                                                                                                                reported on your 2008, 2009, 2011, and
                                                                                                                                           2012 tax returns.
1. Excluding rollovers, recharacterizations, and contributions that you had returned to you.
2. Refigure line 23 without taking into account any amount entered on Form 8606, line 20.
3. Amounts rolled over from qualified retirement plans to Roth IRAs from your Form 1040, line 16a; Form 1040A, line 12a; or Form 1040NR, line 17a.
4. Do not include any in-plan Roth rollovers entered on line 21.

Instructions for Form 8606 (2012)                                                      ­11­

				
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