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Get your taxes done using TurboTax
The 2023/2024 tax results are the same either way. However, the law requires that nondeductible contributions be reported, so reporting on the 2024 tax return only $500 of an actual $8,000 nondeductible contribution for 2024 would technically be a violation of section 408(o)(4) of the tax code. It's your choice.
‎April 27, 2024
5:52 AM