17.3 Individual Retirement Arrangements (IRAs): Roth IRA
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 (PDF), Nondeductible IRAs, if you made a nondeductible
contribution to a traditional IRA; converted from a traditional IRA, a SEP, or Simple
IRA to a Roth IRA, received a distribution from a traditional IRA, a SEP, or a Simple
IRA and made nondeductible contributions to a traditional IRA, or received a distribution
from a Roth or IRA.
References:
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. See Publication 590, Individual Retirement Arrangements, for the requirements
to contribute to a SEP and a Roth IRA. However, your SEP IRA contribution and Roth
IRA contribution can not be made to the same IRA.
References:
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