Thank you for your response. However, there are some screens that are not mentioned in the instructions.
In the below screen I clicked Yes.
Any Nondeductible Contributions to Your IRA?
Let us know if you made and kept track of any nondeductible contributions to your traditional IRA from 2021 or prior years. (This is not common.)
Most people do not make or track any nondeductible contributions to their IRAs. | | |
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| | Yes, I made and tracked nondeductible contributions to my IRA. | | | No, I did not make and track nondeductible contributions to my IRA. | | |
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But then I get this screen - should this value be $0?
Let's Find Your IRA Basis
Remember, most people with traditional IRAs do not make or track nondeductible contributions that give them a basis other than zero.
If you did make any nondeductible contributions, look at your most recent Form 8606. Find the box called total basis and enter the number from that box below. If you never filed a Form 8606, just enter 0 (zero). Learn More | | |
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| | Total Basis as of December 31, 2021 | | | | | |
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I ask because then I receive this screen. Income Too High To Deduct an IRA Contribution Your modified adjusted gross income (MAGI) is $148,673, which puts you over the limit for IRA deductions. To deduct a contribution, you can't have a MAGI of over $78,000 while being covered by a retirement plan at work. Learn More And when I click Continue I get the below screen. And then the section is over. Is that all I have to do this year if I made the contribution for 2022 between Jan 1 and Apr 18 2023? Your IRA Deduction Summary | Based on what you've entered you don't qualify for an IRA deduction. | | | You will need to complete your return before we can show you the actual results.
Watch for your actual IRA deduction results later on after Deductions & Credits. | | |
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