Omar
Level 2

Do I need to report a non-deductible late spousal IRA contribution?

Hi tax experts!

 

My spouse made a late (Jul/2020) traditional IRA contribution for the previous tax year (2019) and I am wondering if we need to report it at all (and how to enter it in TurboTax) if we'll be unable to make any deduction given we're above the income limit (we're filing a joint return).

 

Regards!

 

Omar