MaryK4
Expert Alumni

Get your taxes done using TurboTax

If you make nondeductible contributions to your traditional IRA, you must file an 8606 for that year.  If you do not, the IRS will treat your entire contribution as if it was deductible even if you did not deduct it so when you withdraw the money it will all be taxable income (no basis).  See Form 8606 and What is IRS Form 8606: Nondeductible IRAs - TurboTax - Intuit.

 

I did not see any podcasts on the 8606 specifically; but if find any helpful podcasts, I will add to this post.

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