I want to do a Roth conversion with my traditional IRA, but that means backtracking to make sure none of my contributions were deductible. Trouble is, I'm not sure how to tell.
2016-2020, I had a TSP but I'm not sure whether the contributions were nondeductible. Looking at my tax returns from those years, "IRA deductions" line is blank. There's a form 8880 (tax savers)- line 12 is blank as well so it seems I wasn't able to take the tax credit. So far, nondeductible it seems.
2020, I set up a traditional IRA and transferred the money from TSP into it. I didnt make any contributions to it until 2022.
2022, I put in $1000. Tax return line for "IRA deductions" is blank.
Is it safe to assume that all my contributions so far, from TSP fund transfer, to the $1k in 2022 have been nondeductible? I won't trigger a pro rata? What's a surefire way to check the TSP contributions?
" What's a surefire way to check the TSP contributions?"
"I want to do a Roth conversion with my traditional IRA"
TSP contributions are not relevant when considering this scenario.
Based on the information provided, only your direct contribution to the IRA in 2022 would be nondeductible.
Contributions to a Thrift Savings Plan (TSP) are generally deductible contributions. However, you wouldn't see them on your tax return as a separate deduction because these contributions are generally made through your employer and are deducted from your gross income on your W-2.
When you rolled the money in the TSP over to a traditional IRA, you didn't pay tax on it so the amount rolled over would not be considered nondeductible. However, the $1,000 that you contributed directly to the traditional IRA and didn't take a deduction for would be a nondeductible contribution.
A TSP is pre-tax, is not a Roth. If you rolled over your TSP account into a privately owned IRA, that is all pre-tax at this point.
For 2022, if you contributed $1000 to the IRA, you either took a tax deduction or you didn't. If you did not take a tax deduction, then you should have a form 8606 with your 2022 return that documents that you now have a $1000 after-tax basis in the IRA. That form 8606 is what you use to calculate the pro-rata tax on the conversion, and you will also get a new form 8606 when you file your 2025 return (because any conversion now will be in 2025) that will document the calculation, and show the remaining amount of the after-tax basis (if you don't convert the entire IRA all at once).
If you think you did not take a tax deduction for the $1000 contribution but you don't have a form 8606 with your 2022 tax return, you need to file an amended return that either takes the tax deduction or reports the non-deductible contribution on form 8606.