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Strategies & Market Trends : Income Taxes and Record Keeping ( tax ) -- Ignore unavailable to you. Want to Upgrade?

To: Colin Cody who wrote (779)	3/18/1998 3:28:00 PM
From: posthumousone	Read Replies (1) \| Respond to of 5810

I have put the $2000 maximum in for non deductible IRA for for a few previous years. And a $2000 non deductible Roth IRA for this year. When I used Turbo Tax I noticed it filled out form 8606. I am not sure I have used those in the past (looking for them now) I have all my IRA statements showing whether they are ded or non ded. If I can't find the Old 8606 do I should I send them these statements? Hypothetically, say I have 2 jobs. A full time job that I contribute maximum $8000 to 457B (govt 401K like plan) and a part time job that offers a 401K plan. Can I contribute to both? My mom didn't have a 401K, but some type of profit sharing plan. She is retired now. Is there special tax consequences to profit sharing plans?

To: Colin Cody who wrote (779)	3/19/1998 9:58:00 AM
From: Ramin Motakef	Read Replies (1) \| Respond to of 5810

Colin, Thank you for your response regarding the wash sale. The actual question that I put to IRS was if the losses that fall under the wash sale rule, can be captured within that year or later years (depending on the amount of the total loss). After several trips to the IRS office and discussion with several of their employees, they kept giving me the same answer: " NO!". I sensed their answer was not correct, so I came up with that exaggerated example for clarification. Thank you again, Ron