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Get your taxes done using TurboTax
thank you. I think that’s where I’m confused. When it asks the question “any nondeductible contributions to you IRA?” it also says this is not typical and should be line 14 of 2021 8606. So what am I putting here at this question? Do I put the $6000 I contributed in year 2022, or the amount in line 14 of 2021 8606?
If my balance in my traditional was $500 at end of year 2021 and $0 at end of year 2022 but my line 14 of my 2021 8606 was $2772, would this actually be possible considering what I did in previous years? Or should line 14 reflect what balance I have in traditional at the end of the year? I aim to empty my traditional every year but 2021 I had $500 leftover
thank you
February 23, 2023
7:43 PM