Any Forms to IRA for Roth Contribution..

[Guest ViralShah]

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?

[Appleby]

Yes.

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

[Guest ViralShah]

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..

[Appleby]

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.