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Get your taxes done using TurboTax
Yes, as mentioned in step 10 entering the IRA contribution, if you have a retirement plan at work and are over the income limit it will be nondeductible automatically. You will not get the “Choose Not to Deduct IRA Contributions” screen but get a warning "Income Too High To Deduct an IRA Contribution" and then a screen saying $0 is deductible.
Yes, that sounds correct. Since the contribution is nondeductible it won't reduce your income and therefore change your refund.
Yes, you converted the amount in 2025, therefore the conversion must be reported on your 2025 tax return.
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February 6, 2025
4:14 AM