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TTMan, you asked:

Pixy, There are 3 types of IRAs, as far as I can tell, a deductible, a nondeductible,and a ROTH - my question is: The ROTH IRA is nondeductible, do I use form 8608 (I can't tell if there is a difference in the use of the adjective 'nondeductible' as part of the IRA name and the description of the IRA - sigh, I am starting to confuse myself).

It's my understanding that Form 8606 will be revised to indicate a contribution was for a nondeductible traditional IRA or for a Roth IRA or both. What the revision will look like, though, I have no idea. Only one thing is certain, and that is the required form(s) will be available come tax time next year.


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