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Posted by Arthur Kamlet on September 9, 2007, 10:09 pm
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>
> The IRS knows because you need to tell them. Form 8606 is
> used to keep track of your basis in the IRA. You file this
> every year in which non-deductable contributions are made,
> and then each year in which you take distributions, because
> the ratio will change due to investment returns in the IRA.
>
> It was once advisable to keep roll-over and non-roll-over
> accounts separate, but that is no longer necessary.
Unless you might have to file for bankruptcy.
In which case an uncorrupted IRA resulting only from a
rollover from a qualified employer plan has unlimited
protection, while other IRAs have $1 million protection in
bankruptcy.
--
ArtKamlet at a o l dot c o m Columbus OH K2PZH
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