Description Of Major Changes And Instructions For Form 8606 - Nondeductible Iras - 2010 Page 10
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12(other than qualified first-time homebuyer distributions)
and rolled over after December 31,
not below zero. On the dotted line to
your basis in regular Roth IRA
2010 (outstanding rollovers).
the left of line 35, enter your qualified
contributions, use the chart on page 10
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Recharacterizations.
first-time homebuyer expenses. Then
to figure the amount to enter on line 31.
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Distributions that are a return of
complete line 36.
If you did not take such a distribution
contributions under Return of IRA
before 2010, enter on line 31 the total
Line 29
Contributions on page 4.
of all your conversions to Roth IRAs
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Distributions made on or after age
(other than amounts recharacterized).
Figure the amount to enter on line 29
59
1
/
if you made a contribution
These amounts are shown on line 14c
as follows.
2
•
(including a conversion) for 2005 or an
of your 1998, 1999, and 2000 Forms
If you did not take a Roth IRA
earlier year. However, see Certain
8606, line 16 of your 2001 through
distribution before 2010 (other than an
qualified distributions on page 7.
2009 Forms 8606, and line16 of your
below
amount rolled over or recharacterized
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A one-time distribution to fund an
2010 Form 8606 (only if you checked
or a returned contribution), enter on line
HSA. For details, see Pub. 969.
the box on line 19). Also include on line
29 the total of all your regular
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Qualified charitable distributions. For
31 any amounts rolled over from a
contributions to Roth IRAs for 1998
details, see the instructions for Form
qualified retirement plan to a Roth IRA
Pub. 590
through 2010 (excluding rollovers from
1040, lines 15a and 15b; Form 1040A,
for 2008 and 2009 reported on your
other Roth IRAs and any contributions
lines 11a and 11b; or Form 1040NR,
Form 1040, 1040A, or Form 1040NR,
that you had returned to you), adjusted
lines 16a and 16b.
and line 21 of your 2010 Form 8606
for any recharacterizations.
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Qualified charitable distributions you
(only if you checked the box on line 24).
If you did take such a distribution
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made in January 2011, that you elect to
Increase or decrease the amount on
before 2010, use the chart on page 9 to
treat as made in 2010. For details, see
line 31 by any basis transferred or
figure the amount to enter.
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Pub. 590.
received incident to divorce. Also attach
Increase the amount on line 29 by
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Distributions made upon death or
a statement similar to the one
any amount rolled in from a designated
due to disability if you made a
explained in the last bulleted item under
Roth account that is treated as
contribution (including a conversion) for
Line 7 on page 6.
investment in the contract. Do not
2005 or an earlier year. However, see
include any in-plan Roth rollovers
Deleted instr for 2009 LIne 25b and
Line 33
Certain qualified distributions on page
example (relating to QDRA distribs
entered on lines 25a and 25b.
•
7.
below
Enter on line 33, the smaller of line 32
Increase or decrease the amount on
•
Distributions that are incident to
or the total of lines 20a, 20b, 25a, and
line 29 by any basis transferred or
divorce. The transfer of part or all of
25b. If any amounts on lines 25a and
received incident to divorce. Also attach
your Roth IRA to your spouse under a
25b are attributable to an in-plan Roth
a statement similar to the one
divorce or separation agreement is not
explained in the last bulleted item under
rollover, do not include those amounts
Deleted
taxable to you or your spouse.
on line 33, unless you rolled over
Line 7 on page 6.
para.
•
Increase the amount on line 29 by
amounts from your designated Roth
on
If, after considering the items above,
account to your Roth IRA after the
the amounts received as a military
QDRA
you do not have an amount to enter on
gratuity or SGLI payment that was
in-plan Roth rollover.
distrib
line 26, do not complete Part IV; your
rolled over to your Roth IRA.
Roth IRA distribution(s) is not taxable.
Certain Distributions From
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Increase the amount on line 29 by
Instead, include your total Roth IRA
Designated Roth Accounts
any amount received as qualified
distribution(s) on Form 1040, line 15a;
settlement income in connection with
Form 1040A, line 11a; or Form
If you received a distribution from your
the Exxon Valdez litigation and rolled
1040NR, line 16a.
designated Roth account after making
Move text from page 7
over to your Roth IRA.
an in-plan Roth rollover (reported on
•
Line 27
Increase the amount on line 29 by
Form 8606, Part III), you may have to
any airline payments you rolled over to
include the part of the distribution
If you had a qualified first-time
your Roth IRA.
allocable to the in-plan Roth rollover in
homebuyer distribution from your Roth
Line 30
income for 2010. See Accelerated
IRA and you made a contribution
income inclusion below.
(including a conversion) to a Roth IRA
Generally, there is an additional 10%
Exception. If you checked the box on
for 2005 or an earlier year, enter the
tax on 2010 distributions from a Roth
amount of your qualified expenses on
line 24 and you are including the
IRA that are shown on line 30. The
line 27, but do not enter more than
in-plan Roth rollover in income in 2010,
additional tax is figured on Form 5329,
$10,000. See the note below if you
do not complete the worksheet below.
Part I. See the instructions for Form
entered amounts on lines 20a and 20b
Accelerated income inclusion. If,
5329, line 1, for details and exceptions.
or 25a and 25b (not including in-plan
after September 27, 2010, you make an
Line 31
Roth rollovers on lines 25a and 25b).
in-plan Roth rollover, you are allowed to
Note. If you had qualified first-time
Figure the amount to enter on line 31
include the taxable amount in income in
homebuyer expenses and also entered
as follows.
equal amounts in 2011 and 2012.
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amounts on lines 20a and 20b or 25a
If you have never made a Roth IRA
However, if you received distributions of
and 25b (not including in-plan Roth
conversion or rolled over an amount
any in-plan Roth rollover amounts, you
rollovers on lines 25a and 25b), enter
from a qualified retirement plan to a
may be required to include a portion of
-0- on line 27. Complete Form 8606
Roth IRA, enter -0- on line 31.
the distribution allocable to the in-plan
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through line 34. If you have an amount
If you took a Roth IRA distribution
Roth rollover in income in 2010.
to enter on line 35, reduce this amount
(other than an amount rolled over or
Complete the worksheet below only if
by your qualified first-time homebuyer
recharacterized or a returned
you completed lines 25a and 25b of
expenses not entered on line 27, but
contribution) before 2010 in excess of
Form 8606 for your in-plan Roth
Designated Roth Account Income Acceleration Worksheet
Keep for Your Records
1. Enter the amount from the box to the far left of box 10 from your 2010 Form 1099-R . . . . . . . . . . . . . . . . . . . 1.
2. Enter the total of lines 25a and 25b of Form 8606 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2.
3. Taxable amount. Enter the smaller of line 1 or line 2. Also include this amount on Form 8606, line 36, and on
Form 1040, line 16b; Form 1040A, line 12b; or Form 1040NR, line 17b . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3.
If you also have a taxable distribution from a Roth IRA reported on Form 8606, line 36, combine that amount with line 3 of this worksheet.
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Instructions for Form 8606 (2010)
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