Description Of Major Changes And Instructions For Form 8606 - Nondeductible Iras - 2010 Page 2
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We added instructions in Part II for Lines 19, 20a, 20b. These lines were added to 2010
Form 8606 On line 19 taxpayers can elect to include the any required conversions amounts
in income in 2010. Otherwise, they will complete lines 20a and 20b to indicate the amount
to be included in income in 2011 and 2012 respectively. IRC 408(d)(3)
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Part III, 2010 Rollovers From Qualified Retirement Plans to Roth IRAs and In-plan Rollovers
to Designated Roth Accounts, was added to Form 8606, and we added corresponding
instructions for reporting these rollovers.
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We added a caution indicating that rollovers to Roth IRAs and in-plan Roth rollovers are
reported on separate Forms 8606.
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We renumbered Part III - Distributions From Roth IRAs, it is now Part IV, and the title was
changed to Distributions From Roth IRAs (and Certain Distributions from Designated Roth
Accounts).
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We added a second bullet under the title to indicate you must complete Part IV if you took a
distribution from a designated Roth account in 2010 allocable to an in-plan Roth rollover.
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We added instructions under Line 26 for Certain qualified distributions (other than first-time
homebuyer distributions).
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We added the paragraph, Accelerated income inclusion, to the beginning of Part IV. If a
distribution is received in 2010, and either a conversion or rollover was made in 2010 that
qualified to be included in income in 2011 and 2010, a portion of the distribution allocable to
the conversion or rollover may have to be included in income in 2010. IRC 408A(d)(3)(E)(i)
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We added a note under the instructions for Line 27 with directions for completing the line for
taxpayers who are including income from a rollover in income in 2011 and 2012.
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We added instructions for Line 33 for taxpayers who are including amounts in income in
2011 and 2012 from a rollover. We specifically discuss in-plan Roth rollovers in the new
material Certain Distributions From Designated Roth Accounts, and Accelerated income
inclusion. We also added a Designated Roth Account Income Acceleration Worksheet.
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Line numbering and references were conformed to changes in the 2010 Form 8606.
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Year references were updated as appropriate throughout.
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