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.
Instead, it will be reported on the 2014 Form 5498. (Box 10): Roth IRA contributions for tax year 2013 made in either 2013 or 2014. (Box 11): This box is checked if the account owner must take a Required Minimum Distribution (RMD) for 2014. This does not apply to Roth IRA and Beneficiary (or Inherited) IRA accounts.nstead, it will be reported on the 2014 Form 5498. (Box 10): Roth IRA contributions for tax year 2013 made in either 2013 or 2014. (Box 11): This box is checked if the account owner must take a Required Minimum Distribution (RMD) for 2014. This does not apply to Roth IRA and Beneficiary (or Inherited) IRA accounts.