Instructions For Form 8606 - 2016 printable pdf download

2016

Department of the Treasury

Internal Revenue Service

Instructions for Form 8606

Nondeductible IRAs

Note. If you recharacterized a 2016

Section references are to the Internal Revenue

If you received distributions

Code unless otherwise noted.

Roth IRA contribution as a traditional

from a traditional, SEP, or

TIP

IRA contribution, or vice versa, treat the

General Instructions

SIMPLE IRA in 2016 and you

contribution as having been made to the

have never made nondeductible

second IRA, not the first IRA. See

contributions (including nontaxable

Future Developments

Recharacterizations, later.

amounts you rolled over from a qualified

For the latest information about

retirement plan) to traditional IRAs, don’t

You don’t have to file Form

developments related to Form 8606 and

report the distributions on Form 8606.

8606 solely to report regular

TIP

its instructions, such as legislation

Instead, see the instructions for Form

contributions to Roth IRAs. But

enacted after they were published, go to

1040, lines 15a and 15b; Form 1040A,

see

What Records Must I

Keep, later.

lines 11a and 11b; or Form 1040NR,

lines 16a and 16b. Also, to find out if

When and Where To File

What's New

any of your contributions to traditional

File Form 8606 with your 2016 Form

IRAs are deductible, see the

Modified AGI limit for Roth IRA con

1040, 1040A, or 1040NR by the due

instructions for Form 1040, line 32;

tributions increased. You can

date, including extensions, of your

Form 1040A, line 17; or Form 1040NR,

contribute to a Roth IRA for 2016 only if

return.

line 32.

your 2016 modified adjusted gross

income (AGI) for Roth IRA purposes is

If you aren’t required to file an

Who Must File

less than:

income tax return but are required to file

$194,000 if married filing jointly or

Form 8606, sign Form 8606 and send it

File Form 8606 if any of the following

qualifying widow(er);

to the Internal Revenue Service at the

apply.

$132,000 if single, head of

same time and place you would

You made nondeductible

household, or married filing separately

otherwise file Form 1040, 1040A, or

contributions to a traditional IRA for

and you didn’t live with your spouse at

1040NR. Be sure to include your

2016, including a repayment of a

any time in 2016; or

address on page 1 of the form and your

qualified reservist distribution.

$10,000 if married filing separately

signature and the date on page 2 of the

You received distributions from a

and you lived with your spouse at any

form.

traditional, SEP, or SIMPLE IRA in 2016

time in 2016.

and your basis in traditional IRAs is

Definitions

See

Roth

IRAs, later.

more than zero. For this purpose, a

distribution doesn’t include a rollover,

Due date for contributions. Because

Deemed IRAs

qualified charitable distribution,

April 15, 2017, falls on a Saturday, and

A qualified employer plan (retirement

one-time distribution to fund an HSA,

Emancipation Day, a legal holiday in the

plan) can maintain a separate account

conversion, recharacterization, or return

District of Columbia, is observed on

or annuity under the plan (a deemed

of certain contributions.

Monday, April 17, 2017, the due date for

IRA) to receive voluntary employee

You converted an amount from a

making contributions for 2016 to your

contributions. If in 2016 you had a

traditional, SEP, or SIMPLE IRA to a

IRA is April 18, 2017, even if you don’t

deemed IRA, use the rules for either a

Roth IRA in 2016 (unless you

live in the District of Columbia.

traditional IRA or a Roth IRA depending

recharacterized the entire

on which type it was. See Pub. 590-A

Purpose of Form

conversion—see Recharacterizations,

for more details.

later).

Use Form 8606 to report:

You received distributions from a

Traditional IRAs

Nondeductible contributions you

Roth IRA in 2016 (other than a rollover,

made to traditional IRAs;

For purposes of Form 8606, a traditional

recharacterization, or return of certain

Distributions from traditional, SEP, or

IRA is an individual retirement account

contributions—see the instructions for

SIMPLE IRAs, if you have ever made

or an individual retirement annuity other

Part

III, later).

nondeductible contributions to

than a SEP, SIMPLE, or Roth IRA.

You received a distribution from an

traditional IRAs;

inherited traditional IRA that has basis,

Contributions. An overall contribution

Conversions from traditional, SEP, or

you transferred an inherited plan

limit applies to traditional IRAs and Roth

SIMPLE IRAs to Roth IRAs; and

account to a Roth IRA, or you received

IRAs. See

Overall Contribution Limit for

Distributions from Roth IRAs.

a distribution from an inherited Roth IRA

Traditional and Roth

IRAs, later.

Additional information. For more

that wasn’t a qualified distribution. You

Contributions to a traditional IRA may be

details on IRAs, see Pub. 590-A,

may need to file more than one Form

fully deductible, partially deductible, or

Contributions to Individual Retirement

8606. See IRA with basis under What if

completely nondeductible.

Arrangements (IRAs), and Pub. 590-B,

You Inherit an IRA? in Pub. 590-B for

Basis. Your basis in traditional IRAs is

Distributions from Individual Retirement

more information.

the total of all your nondeductible

Arrangements (IRAs).

contributions and nontaxable amounts

included in rollovers made to traditional

Nov 17, 2016

Cat. No. 25399E

Instructions For Form 8606 - 2016

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