@jlermond9 wrote:
I’m starting to get it. Grateful for your help!
When it asks “any non deductible contributions” do I answer yes or no? The help guide indicates to answer yes to “generate the 8606 behind the scenes”, but it specifically says for 2019 or earlier, which wouldn’t apply to me. So I’m lost again.
Answer yes. The 2020 contributions come from the 2020 contribution interview.
You enter any 2020 non-deductible contributions in the IRA contribution interview before entering the 1099-R.
Enter IRA contributions here:
Federal Taxes,
Deductions & Credits,
I’ll choose what I work on (if that screen comes up),
Retirement & Investments,
Traditional & Roth IRA contribution.
OR Use the "Tools" menu (if online version under My Account) and then "Search Topics" for "ira contributions" which will take you to the same place.
**Disclaimer: This post is for discussion purposes only and is NOT tax advice. The author takes no responsibility for the accuracy of any information in this post.**
