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Get your taxes done using TurboTax
@DanaB27 Thanks for your response.
I have some follow up questions
If your wife never made any nondeductible traditional IRA contributions in prior years and therefore never filed Form 8606 then you will select “No” to this question.
My wife has made non deductible contribution for year 2022 (made in early 2023 for bakdoor roth conversions) just not for year 2023. So do i enter Yes for above question.
Here is the scenario for my wife
In 2023 my wife had put 6k in traditional IRA and then moved to Roth IRA some time later, she has received one 1099-R from that. this has IRA/SEP/SIMPLE box checked, it has $6003 as distribution.
Also she had changed jobs in 2022 and her previous employer moved her 401k to an IRA account in 2023, so she got one 1099-r for it for $910 (This was deductible as it was 401k). This does not have IRA/SEP/SIMPLE box checked
For this scenario she answered No on the screen Any NonDeductible Contributions to IRA and now $6004 shows taxable. Should we answer Yes on that screen and then enter 6000 as basis from the last years 8606