What do I need to support my ira contribution

[lanie3of8]

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?

[IreneS · Accepted solution]

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!]

[lanie3of8]

I read that Form 8606 needs to be reported but I don't see that in my documents.

[IreneS]

Form 8606 is only necessary if you made NONDEDUCTIBLE contributions to an IRA.  For regular contributions to a traditional IRA you do not need this form.