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Level 2
June 4, 2019
Solved

What do I need to support my ira contribution

  • June 4, 2019
  • 3 replies
  • 8 views

I opened an IRA in my bank and included it on my return.  What else do I need to do? How does the IRS know that we opened it?

Best answer by Irene2805

That's all you need to do. The IRS will take your word for it on your return, but they would find out eventually if you didn't really open the IRA!   [They have ways!]

3 replies

Irene2805Answer
Level 15
June 4, 2019

That's all you need to do. The IRS will take your word for it on your return, but they would find out eventually if you didn't really open the IRA!   [They have ways!]

lanie3of8Author
Level 2
June 4, 2019
I read that Form 8606 needs to be reported but I don't see that in my documents.