Individual Retirement Arrangements (IRAs): Roth IRA

Roth IRA

This is archived information that pertains only to the 2000 Tax Year. If you
are looking for information for the current tax year, go to the Tax Prep Help Area.

Do I report my nondeductible Roth IRA contributions on Form 8606?

There are no forms to report a Roth contribution. The financial institution, which is the trustee of your Roth IRA, will send you information on the amount in your Roth IRA. They will also send the information to the Internal Revenue Service. Use Form 8606, Nondeductible IRAs, if you made a nondeductible contribution to a traditional IRA, converted from a traditional IRA to a Roth IRA, received a distribution from a traditional IRA and made nondeductible contributions, or received a distribution from a Roth or Education IRA.

References:

Publication 590, Individual Retirement Arrangements (IRAs) (Including Roth IRAs and Education IRAs)
Form 8606, Nondeductible IRAs
Tax Topic 428, Roth IRA distributions

Can a person make a contribution to a SEP-IRA and a Roth IRA, too?

Yes, you can make a contribution to a SEP-IRA and a Roth IRA.

References:

Publication 590, Individual Retirement Arrangements (IRAs) (Including Roth IRAs and Education IRAs)
Publication 560, Retirement Plans for Small Business
Tax Topic 451, Individual retirement arrangements (IRAs)

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