Form 8606 reports nondeductible IRA contributions and distributions. Learn its purpose, who needs to file, how to complete it ...

If you completed a Roth individual retirement account conversion in 2022, your tax return may be complicated, experts say. When figuring out your tax bill, you need to use the "pro-rata rule," which ...

A backdoor Roth IRA is a mechanism that was born in 2010 when the government lifted what had been income limits on converting traditional IRAs to Roth. The basic idea is that you contribute to a ...

Some high-income earners have the problem of not being able to contribute to their Roth accounts since their incomes exceed the threshold set by the IRS. Fortunately, there is a way to bypass this ...

If you want to make a regular Roth IRA contribution but are disqualified because your income is too high, you can circumvent the income limit by using the backdoor contribution strategy. The backdoor ...