|
“Name. If married, file a separate form for each spouse required to file Form 8606. See page 5 of the instructions.” field contains
Margaret Maple
|
|
“Your social security number” field contains 789-00-1234
|
|
“Home address (number and street, or P.O. box if mail is not delivered to your home)” field contains 239 S. Main Street
|
|
“City, town, or post office, state, and ZIP code” field contains Greensburg, KS 67054
|
|
“1. Enter your nondeductible contributions to traditional IRAs for 2007, including those made for 2007 from January 1, 2008
through April 15,
2008 (see page 5 of the instructions)” field contains -0-
|
|
“2. Enter your total basis in traditional IRAs (see page 5 of the instructions)” field contains 10,000
|
|
“3. Add lines 1 and 2” field contains 10,000
|
|
“4. Enter those contributions included on line 1 that were made from January 1, 2008 through April 15, 2008” filed contains
-0-
|
|
“5. Subtract line 4 from line 3” field contains 10,000
|
|
“6. Enter the value of all your traditional, SEP, and SIMPLE IRAs as of December 31, 2007, plus any outstanding rollovers (see
page 6 of the
instructions)” field contains 50,000
|
|
“7. Enter your distributions from traditional, SEP, and SIMPLE IRAs in 2007. Do not include rollovers, qualified charitable
distributions, a
one-time distribution to fund an HSA, conversions to a Roth IRA, certain returned contributions, or recharacterizations of
traditional IRA
contributions (see page 6 of the instructions)” field contains 30,000
|
|
“8. Enter the net amount you converted from traditional, SEP, and SIMPLE IRAs to Roth IRAs in 2007. Do not include amounts
converted that you
later recharacterized (see page 6 of the instructions). Also enter this amount on line 16” field contains -0-
|
|
“9. Add line 6, 7, and 8” field contains 80,000
|
|
“10. Divide line 5 by line 9. Enter the result as a decimal rounded to at least 3 places. If the result is 1.000 or more, enter
1.000”
field contains × .125
|
|
“11. Multiply line 8 by line 10. The is the nontaxable portion of the amount you converted to Roth IRAs. Also enter this amount
on line
17.” field contains -0-
|
|
“12. Multiply line 7 by line 10. This is the nontaxable portion of your distributions that you did not convert to a Roth IRA.” field
contains 3,750
|
|
“13. Add line 11 and 12. This is the nontaxable portion of all your distributions” field contains 10,000
|
|
“14. Subtract line 13 from line 3. This is your total basis in traditional IRAs for 2007 and earlier years” field contains
6,250
|
|
“15. Taxable amount. Subtract line 12 from line 7. Also include this amount on Form 1040, line 15b; Form 1040A, line 11b; or
Form 1040NR, line
16b. Note: You may be subject to an additional 10% tax on the amount on line 15 if you were under age 59 1/2 at the time of
the distribution (see page
6 of the instructions)” field contains 10,000
|
|
Written in the bottom margin of the form
“Qualified recovery assistance distributions” field contains 13,125
|
|
Written in the bottom margin of the form, below qualified recovery assistance distributions
“Other distributions” field contains 13,125
|
