Form 8606, page 1 — Nondeductible IRAs 2023

Form 8606, page 1 — Nondeductible IRAs 2023

Summary: This is an example of Form 8606 (2023) with items included as described in the text. Additionally, these line items are completed:

"Name. If married, file a separate form for each spouse required to file Form 8606. See instructions." field contains Rose Green
"Your social security number" field contains 001-00-0000
Under"Part I: Nondeductible Contributions to Traditional IRAs and Distributions From Traditional, SEP, and SIMPLE IRAs":
"1. Enter your nondeductible contributions to traditional IRAs for 2023 including those made for 2023 from January 1, 2023 through April 15, 2024" field contains 500
"2. Enter your total basis in traditional IRAs See instructions" field contains 300
"3. Add lines 1 and 2" field contains 800
"4. Enter those contributions included on line 1 that were made from January 1, 2023, through April 18, 2023" field contains 0
"5. Subtract line 4 from line 3" field contains 800
"13. Add lines 11 and 12. This is the nontaxable portion of all your distributions" field contains 460 Footnote: From Worksheet 1-1 in Pub. 590-B.
"14. Subtract line 13 from line 3. This is your total basis in traditional IRAs for 2023 and earlier years" field contains 340
"15c. Subtract line 12 from line 7. If more than zero, also include this amount on Form 1040, 1040-SR, or 1040-NR, line 4b" field contains 0