thank you! you said: "Therefore, you will need to enter $0 for the amount you elect to make deductible."
Did you mean to say "non-deductible" here instead of deductible? Basically, it looks like I just need to change Line 14 to 0, right? That is what Turbo Tax is suggesting. Meaning that the non-deductible $6,500 is already covered by my work retirement?
Once I changed Line 14 to 0, the Smart Check ran again and said there were no errors and my Form 8806 looks good.
I did not deduct any traditional IRA contributions. I contributed to my individual 401k plan at work (I split have between Traditional 401k and half Roth 401k), but did not deduct any Traditional IRA money - the entirety of my Traditional IRA contribution is nondeductible.
