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 tax attorney by contacting The McGuire Law Firm at 720-833-7705.
John McGuire is a tax attorney and business attorney in Denver, Colorado. Mr. McGuire assists clients with tax matters from tax planning and the tax implications of business transactions to tax matters before the IRS such as IRS audits, United States Tax Court cases and IRS debts.