Form 8606: Nondeductible IRAs FLEXCAST

Overview

This class will cover Form 8606 - a form that could become one of your best friends for tracking basis for Nondeductible IRAs.

Highlights

Contributions to traditional IRAs. Form 8606 best practices. Recreating cost basis. Backdoor Roth IRA. Distributions from traditional IRAs. Distributions from Roth IRAs. Qualified charitable distribution.

Prerequisites

None.

Designed For

CPAs, financial professionals, enrolled agents and attorneys.

Objectives

Form 8606. Nondeductible contributions and limits. Distributions from IRAs. Traditional IRA, SEP, and SIMPLE. Non-deductible IRA and Roth. Inherited IRAs. Roth conversions from traditional, SEP, and SIMPLE IRAs. Recharacterization. What to do about unfiled or incorrect filings.

Preparation

None.

Notice

This is a FlexCast (no exam required) and may be viewed only Monday - Saturday, 5am - 5pm PT. You may take up to one year from the date of purchase to complete the course. Pause your FlexCast and resume at a convenient day during the hours above. Partial credit for 2+ credit courses: If you are unable to complete the course in one sitting, partial credit can be awarded (minimum of one credit). To earn the remaining credits, you must return later and start the course from the beginning. Use chat to ask questions of a subject matter expert during the program.