IRS Form: Nondeductible IRA Instruction Revisions (IRC §408A)

Draft revised Instructions for Form 8606, Nondeductible IRAs, were released Apr. 6 with changes made to reflect: (i) qualified disaster distributions afforded by the Secure 2.0 Act of 2022 for presidentially (federally) declared major disasters occurring on or after Jan. 26, 2021; (ii) references to Form 8915-F (2022 disasters) for disasters that began in 2022; (iii) change in filing status name from “qualifying widow(er)” to “qualifying surviving spouse;” (iv) certain corrective distributions made on or after Dec. 29, 2022, and before the due date of the income tax return, will not be subject to the 10% additional tax on ...