AnnetteB6
Expert Alumni

Get your taxes done using TurboTax

Entering the basis that was due to the non-deductible 2022 contributions and entering your 2023 non-deductible contributions should ensure that you only pay taxes on the earnings in each of the accounts.

 

You will enter the basis (total of your non-deductible contributions) of the Traditional IRA in the Deductions and Credits > Retirement and Investments > Traditional and Roth IRA Contributions section of your return.  

 

As you get started in that section, check the box that you have a Traditional IRA and go through the screens until you see a question about 'any non-deductible contributions' to your IRA.  Check 'yes' and then enter the total basis of the account as of the end of 2023.  Remember, this is only asking for the contributions that were made, not the total value of the IRA.  

 

@User2698470 

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