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Get your taxes done using TurboTax
When Turbotax asked me if I wanted to make any of the 2019 contribution non-deductible, I said no, because that's normally what I'd answer. So then I had this idea of making $1 non-deductible to force the creation of Form 8606 (so then the explanation sheet would make more sense). This worked.
So $5999 of my 2019 contribution is deductible and I get the tax benefit from that. $1 of 2019 is not, so Form 8606 is generated which then gives me the ability to correct that line 2 where you keep the running total and the explanation sheet of why it differs from previous years.
Does this seem good enough?
‎February 17, 2020
11:36 AM