Here's how it works: Say you receive a car, RV or boat loan through a credit union with which you also have a credit card. In the fine print of the loan contract, you'll probably see that your credit card balance is secured by the auto, RV or boat.ere's how it works: Say you receive a car, RV or boat loan through a credit union with which you also have a credit card. In the fine print of the loan contract, you'll probably see that your credit card balance is secured by the auto, RV or boat.
If you've made nondeductible contributions to your traditional IRA, you have to use Form 8606 to figure the taxable and nontaxable portion. Otherwise, the entire amount is taxable. In addition, if you take a taxable non-qualified withdrawal, you'll have to figure the 10 percent additional tax with Form 5329.
1 Employees can roll their Roth 401(k) contributions over to a Roth IRA account upon termination of employment. 2  It is the employer's decision whether to provide access to the Roth 401(k) in addition to the traditional 401(k).oth IRA contribution limits are significantly less than 401(k) contribution limits. For tax-year 2014, individuals may contribute no more than $5,500 to a Roth IRA if under age 50, and $6,500 if age 50 or older.