Feb 1, 2025 · Hello, I started contributing to Traditional IRA since the last several years and none of those contributions are deductible. However I have never filed 8606 with the basis for those yearly …

Apr 11, 2025 · Your wife also should have a 2023 Form 8606 with a basis of $6,500 on lines 1, 3, and 14. This basis has to be entered in the 2024 return when TurboTax asks “Any Nondeductible …

Feb 23, 2025 · Hi - my husband and I filed MFS this year. When he filled out his taxes, TT brought up a screen to enter the basis for IRA on form 8606. However, going through the same section, TT never …

Jan 30, 2025 · - file a Form 8606 for 2019 to report their initial nondeductible contribution. Line 14 of the 2019 Form 8606 should show a basis of $6,000. - amend their Form 8606 for 2020. Line 2 should be …

Jun 6, 2019 · How do I fill out form 8606 in Turbo-Tax? We'll automatically generate and fill out Form 8606 (Nondeductible IRAs) if you reported any of these on your tax return: Nondeductible …

Jun 4, 2019 · If you made a non-deductible contribution ( and in fact did not take any deduction on prior year tax returns ) and failed to file a Form 8606, you will need to go back and file a Form 8606 for …

Apr 16, 2023 · Background: - Step #1- In my 2021 return, TurboTax did not correctly keep track of my historical “non-deductible” Traditional IRA contributions. As such, Line 2 of Form 8606 showed the …

Mar 16, 2025 · This is my first time to file form 8606 for the non-deductible IRA. How do I submit the IRA contribution from Form 5498, and will form 8606 automatically populate? Thank you for your assistance.

Feb 10, 2024 · For about 15 years, I mailed Form 8606 for the IRA with a letter of explanation to the IRS after e-filing. For tax year 2023, I received a letter from the IRS instructing me to file an amended …