Form 8606 online DE 2024-2025

Form 8606 online DE: What You Should Know

The IRS requires all the following: The individual, spouse, or common-law partner: Must have been legally at least 50 years of age at the time of the filing of their return A person, who previously has had an IRA of at least 100,000 or is a spouse or common-law partner of a person who has had an IRA of at least 100,000 Must have at least one or more qualifying retirement assets (including any IRAs) in the account A person, who previously has had an IRA of at least 200,000 or is a spouse or common-law partner of a person who has had an IRA of at least 200,000 Must have at least one or more qualifying retirement assets (including any IRAs) in the account Note that the 100,000 rule includes 65,000 if the taxpayer was a non-spouse or common-law partner at the time of the earlier filing; 85,000 if the taxpayer is a spouse or common-law partner at the time of the older filing, and 250,000 if the taxpayer is not a spouse or common-law partner at the time of the filing of the younger filing. The following is a list of individuals who have been able to take a nondeductible contribution to a return filed for the last two, three, and more year periods, to any IRA, when you have been age 62 or older at the time of the last contribution: A person who has had an IRA of at least 100,000 since Jan. 1, 2012, including the person or the person's spouse if the person has had an IRA of at least 100,000 since Jan. 1, 2012. A person who has had an IRA of at least 200,000 since Jan. 1, 2012, including the person or the person's spouse, if the person has had an IRA of at least 200,000 since Jan. 1, 2012. A spouse or common-law partner of a person who has had an IRA of at least 100,000 since Jan. 1, 2012, including the spouse or common-law partner if the person has had an IRA of at least 100,000 since Jan. 1, 2012. (Note that, starting Jan. 1, 2013, the 200,000 IRA rule applies to those with an IRA of at least 100,000 from Jan. 1, 2025 to Jan. 1, 2013.

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