It will be my first year, when I will be making ROTH IRA contribution for Year 2000. Do I need to submit any forms to IRS indicating that I have made ROTA IRA contribution for year 200 along with my income tax Return?

Yes.

You must complete the applicable sections of the IRS Form 8606 and attach it to your Form 1040

I am using Turbox Tax and it did not print that form for me..PART 1 in Form 8606 only covers if you made nondeductible contributions ti tradional IRA..No where in the form, I found section, which says, I need to file 8606 for making ROTH IRA contribution..

Thanks for your help..

ViralShah,


qualifying my response.
It seems that the Form 8606 is not required to be filed with the IRS, unless you are doing a conversion , recharacterization or taking a distibrution from your Roth IRA. This is not your case, therefore you are not required to file this form, or any other form with your 1040- with regards to the Roth IRA contribution.

However, the instructions for filing 8606 ( which can be found here http://ftp.fedworld.gov/pub/irs-pdf/i8606.pdf) indicate that the Roth IRA Contribution Worksheet , should be completed and kept for your records. This is to help you keep track of the basis in your Roth IRA and should be used as reference , to determine applicable taxes, on future Roth IRA distributions.