Are distributions from a nondeductible IRA, such as a Roth IRA taxable?  IRS Form 8606 can be used to calculate the taxable amount (if any) from a nondeductible IRA. The Video below has been prepared by a tax attorney at The McGuire Law Firm to provide additional information regarding Form 8606.  You can speak with a...Read More

Are distributions from my Roth IRA taxable?  Many people know and understand that when they take distributions from their traditional IRA or a 401(k) the distributions are taxable.  These distributions are taxable, and it makes sense because you contributed money to the traditional IRA or 401(k) without paying income tax on the contributions.  Thus, being...Read More