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.
Roth Phase-Out. The IRS applies a different set of phase-out rules to Roth IRAs than to traditional IRAs. For a married couple filing jointly, each spouseâs contribution limit is gradually reduced to zero as the coupleâs AGI increases from $173,000 to $183,000. Once their AGI exceeds $183,000, neither spouse may add money to a Roth IRA.