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When to set up 6 Individual retirement bonds 7 Inherited IRAs 20 Rollovers 24 Interest on IRA 2 Investment in collectibles: Collectibles defined 34 Exception 34 K Kay Bailey Hutchison Spousal IRAs: Contribution limits 9 Deductions 10 Roth IRA contribution limits 39 Keogh plans: Rollovers from 27 L Last-in first-out rule 32 Life insurance 27 M Military death gratuities 45 Missing children, photographs of 2 Modified adjusted gross income (AGI): Employer retirement plan coverage and deduction (Table 1-2) 13 Figuring (Worksheet 1-1) 15 No employer retirement plan coverage and deduction (Table 1-3) 13 Roth IRAs 39 Effect on contribution amount (Table 2-1) 42 More than one IRA 9 Recharacterization 31 N Nondeductible contributions 15 Failure to report 15 Overstatement penalty 16 Notice: Qualified employer plan to provide prior to rollover distribution 25 Rollovers 21 P Partial rollovers 24, 26 Penalties 33–38 Excess contributions 34–38 Roth IRAs 43 Exempt transactions 33, 34 Failure to file Form 8606 16 Overstatement of nondeductible contributions 16 Prohibited transactions 33, 34 Reporting 38 Phaseout of deduction 12 Pledging account as security 33 Prohibited transactions 33, 34 Taxes on 33 Publications (See Tax help) Q Qualified domestic relations orders (QDROs) 27 Qualified settlement income 28, 46 R Recharacterization 29–31 Determining amount of net income due to contribution and total amount to be recharacterized (Worksheet 1-3) 30 Reporting 31 Timing of 30 Recordkeeping requirements: Summary record of traditional IRAs for 2018 (Appendix A) 52 Traditional IRAs 16 Reporting: Additional taxes 38 Deductible contributions 15 Recharacterization 31 Rollovers: From employer plans 27 From IRAs 24 Reservists 12 Qualified reservist repayments 8 Retirement bonds (See Individual retirement bonds) Retirement savings contributions credit 46, 47 Rollovers 21–27 Airline payments 27 Amount 23 Choosing an option (Table 1-5) 26 Completed after 60-day period 21 Conduit IRAs 26 Direct rollover option 25 Extension of period 23 From bond purchase plan 27 From employer's plan into an IRA 24 From employer's plan into a Roth IRA 45 From Keogh plans 27 From one IRA into another 23 From Roth IRAs 45 From traditional IRA 21 Inherited IRAs 24 Nonspouse beneficiary 25 Notice 21 Partial 24, 26 Tax treatment of rollover from traditional IRA to eligible retirement plan other than an IRA 21 Time limit 21 To Roth IRAs 44 To traditional IRA 21 Waiting period between 23, 26 Withholding (See Withholding) Roth IRAs 38 Age limit 39 Contribution limit reduced 41 Determining reduced limit (Worksheet 2-2) 43 Contributions 39–44 Timing of 43 To traditional IRAs and to Roth IRAs 39 Conversion 29, 44 Defined 39 Excess contributions 43 Modified AGI: Effect on contribution amount (Table 2-1) 42 Figuring (Worksheet 2-1) 40 Rollovers from 45 Setting up 39 Spouse 39 Traditional IRAs converted into 29 S Section 501(c)(18) plan 9 Self-certification 23 Self-employed persons: Deductible contributions 15 Income of 6 Separated taxpayers: Filing status of 13 Servicemembers group life insurance 45 Services received at reduced or no cost 34 SIMPLE IRAs 7 Traditional IRA, mistakenly moved to 29 Simplified employee pensions (SEPs) 7 Social Security recipients 12 Contributions to traditional IRAs, worksheet (Appendix B) 53, 56 Spousal IRAs (See Kay Bailey Hutchison Spousal IRAs or Inherited IRAs) Students: Retirement savings contributions credit 46 Surviving spouse: Rollovers by 27 Page 60 Publication 590-A (2018)