Form 8606 - Nondeductable IRAs

Form 8606 is a tax form used by individuals who make nondeductible contributions to their Individual Retirement Arrangements (IRAs) and need to report those contributions to the Internal Revenue Service (IRS). The purpose of Form 8606 is to keep track of the basis in your traditional IRAs, which is essential for calculating the tax consequences when you make withdrawals from your IRA.

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