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Strategies & Market Trends : Roth IRA ideas

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To: Trevor Goodchild who wrote (135)5/1/1998 12:17:00 AM
From: Steve Joyce  Read Replies (1) of 388
 
Trevor,

Non-deductable contributions do not have to be kept separate from deductible. The IRS will know what proportion of your IRA contributions are non-deductible through your 8606 filings over the years......however you better have photocopies of the old 8606's because some shareholders I have dealt with in this situation have contacted the IRS to find out the total non-deductible portion in their TIRA's and the IRS had no record and placed the burden of proof on the shareholder.

The IRS always seems to lose the things that tax payers need for proof!!!!

SJJ
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