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.
IRS Form 1099-R is filed for any person to whom a distribution, conversion or recharacterization is made from a traditional, Roth, SEP or SIMPLE Individual Retirement Account (IRA). Other types of retirement accounts or plans, such as 401(k), 403(b), pension and profit sharing, may also issue Form 1099-R.dditionally, your distribution may not be taxable due to a rollover, distribution of a nondeductible contribution or other exception. Therefore, the first box in Box 2b (Taxable amount not determined) is checked. If you have nondeductible contributions, please see the instructions for IRS Form 8606.