senior moments and retirement accounts

[Peace]

I’m in my mid-fifties and am overwhelmed with retirement accounts.
I have been contributing to IRA’s / ROTH’s for over 30 years.
At this point I don’t know what is traditional IRA vs ROTH deposits. I also can’t figure out where I deposited 2006 money (I’m sure I did but I can’t remember).
I think I didn’t deposit for 2007 yet (thus this panic) and normally I deposit for two years at a time, i.e. for 2007 and 2008 now.
And considering how confused I am now, GOD help me! what’s it going to be like in 10 years when I start withdrawing???
So my question is this: if I don’t know what the hell my business is, will the government? Is there some kind of federal running record of my deposits?
By the way I just found out that I can add to an existing ROTH CD that will pay over 5% interest for the next year.
Another question – If I have a non-working spouse can I deposit $6,000 in her account and $6,000 in my account? That would make $24,000 deposit for 2007 and 2008 – right?

[(former)FormerSanDiegan]

1. For traditional deductible IRAs :
Look at your past tax returns. If you contributed to a deductible IRA you should have claimed a deduction for them

2. For traditional non-deductible IRA contributions:
You should have filed Form 8606.

3. For ROTH IRA contributions:
There is no form on your tax return. Your financial institution should have the info. A ROTH IRA should be a separate account from your traditional IRA(s).

4. Despite instructions otherwise, I would keep ALL my tax return records, particularly Form 8606 for non-deductible IRAs, because this is the only way I know of to prove that the portion has already been taxed.

[(former)FormerSanDiegan]

1. For traditional deductible IRAs :
Look at your past tax returns. If you contributed to a deductible IRA you should have claimed a deduction for them

2. For traditional non-deductible IRA contributions:
You should have filed Form 8606.

3. For ROTH IRA contributions:
There is no form on your tax return. Your financial institution should have the info. A ROTH IRA should be a separate account from your traditional IRA(s).

4. Despite instructions otherwise, I would keep ALL my tax return records, particularly Form 8606 for non-deductible IRAs, because this is the only way I know of to prove that the portion has already been taxed.

[(former)FormerSanDiegan]

1. For traditional deductible IRAs :
Look at your past tax returns. If you contributed to a deductible IRA you should have claimed a deduction for them

2. For traditional non-deductible IRA contributions:
You should have filed Form 8606.

3. For ROTH IRA contributions:
There is no form on your tax return. Your financial institution should have the info. A ROTH IRA should be a separate account from your traditional IRA(s).

4. Despite instructions otherwise, I would keep ALL my tax return records, particularly Form 8606 for non-deductible IRAs, because this is the only way I know of to prove that the portion has already been taxed.

[(former)FormerSanDiegan]

1. For traditional deductible IRAs :
Look at your past tax returns. If you contributed to a deductible IRA you should have claimed a deduction for them

2. For traditional non-deductible IRA contributions:
You should have filed Form 8606.

3. For ROTH IRA contributions:
There is no form on your tax return. Your financial institution should have the info. A ROTH IRA should be a separate account from your traditional IRA(s).

4. Despite instructions otherwise, I would keep ALL my tax return records, particularly Form 8606 for non-deductible IRAs, because this is the only way I know of to prove that the portion has already been taxed.

[(former)FormerSanDiegan]

1. For traditional deductible IRAs :
Look at your past tax returns. If you contributed to a deductible IRA you should have claimed a deduction for them

2. For traditional non-deductible IRA contributions:
You should have filed Form 8606.

3. For ROTH IRA contributions:
There is no form on your tax return. Your financial institution should have the info. A ROTH IRA should be a separate account from your traditional IRA(s).

4. Despite instructions otherwise, I would keep ALL my tax return records, particularly Form 8606 for non-deductible IRAs, because this is the only way I know of to prove that the portion has already been taxed.

[nostradamus]

haha 50 is too young to be so confused… ask your doctor if you might have Alzheimer’s!!! 🙁 I hope not.

Really, you should see a financial planner. Why not seek out the help of Rich and John, the owners of this very website? It’s what they do.

http://www.pcasd.com/node

[nostradamus]

haha 50 is too young to be so confused… ask your doctor if you might have Alzheimer’s!!! 🙁 I hope not.

Really, you should see a financial planner. Why not seek out the help of Rich and John, the owners of this very website? It’s what they do.

http://www.pcasd.com/node

[nostradamus]

haha 50 is too young to be so confused… ask your doctor if you might have Alzheimer’s!!! 🙁 I hope not.

Really, you should see a financial planner. Why not seek out the help of Rich and John, the owners of this very website? It’s what they do.

http://www.pcasd.com/node

[nostradamus]

haha 50 is too young to be so confused… ask your doctor if you might have Alzheimer’s!!! 🙁 I hope not.

Really, you should see a financial planner. Why not seek out the help of Rich and John, the owners of this very website? It’s what they do.

http://www.pcasd.com/node

[nostradamus]

haha 50 is too young to be so confused… ask your doctor if you might have Alzheimer’s!!! 🙁 I hope not.

Really, you should see a financial planner. Why not seek out the help of Rich and John, the owners of this very website? It’s what they do.

http://www.pcasd.com/node

[Peace]

Don’t laugh Nostrdamus,

Even if I don’t have Alzheimer’s now it could be setting in by my mid-60’s (runs in the family) and it scares the hell out of me.

Guess I better get this straight and in writing cause if I’m confused nobody else will be able to figure it out either!

[Peace]

Don’t laugh Nostrdamus,

Even if I don’t have Alzheimer’s now it could be setting in by my mid-60’s (runs in the family) and it scares the hell out of me.

Guess I better get this straight and in writing cause if I’m confused nobody else will be able to figure it out either!

[Peace]

Don’t laugh Nostrdamus,

Even if I don’t have Alzheimer’s now it could be setting in by my mid-60’s (runs in the family) and it scares the hell out of me.

Guess I better get this straight and in writing cause if I’m confused nobody else will be able to figure it out either!

[Peace]

Don’t laugh Nostrdamus,

Even if I don’t have Alzheimer’s now it could be setting in by my mid-60’s (runs in the family) and it scares the hell out of me.

Guess I better get this straight and in writing cause if I’m confused nobody else will be able to figure it out either!

[Author]

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