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Get your taxes done using TurboTax
To verify, you followed these steps to enter the 2021 nondeductible contribution on your 2021 tax return:
- Click “Deductions &Credits” on the top
- Click "I'll choose what to work on"
- Scroll down to “Traditional and Roth IRA Contributions” and click “Start”
- Select “traditional IRA” for both you and your spouse
- Answer “No” to “Is This a Repayment of a Retirement Distribution?”
- Enter the amount you contributed
- Answer “No” to the recharacterized question on the “Did You Change Your Mind?” screen
- Answer the next questions until you get to “Any Nondeductible Contributions to Your IRA?” and select “Yes” if you had nondeductible contributions before this tax year
- If you had a basis in the Traditional IRA before then enter the amount (your 2020 Form 8606 line 14).
- Answer “No” to “Is This a Repayment of a Retirement Distribution?”
- Enter the amount your spouse contributed
- Answer “No” to the recharacterized question on the “Did You Change Your Mind?” screen
- Answer the next questions until you get to “Any Nondeductible Contributions to Your IRA?” and select “Yes” if your spouse had nondeductible contributions before this tax year
- If you had a basis in the Traditional IRA before then enter the amount (your spouse's 2020 Form 8606 line 14).
- On the “Choose Not to Deduct IRA Contributions” screen choose “Yes, make part of my IRA contribution nondeductible” and enter the amount for you and your spouse (if you have a retirement plan at work and are over the income limit it will be nondeductible automatically and you only get a warning and then a screen saying $0 is deductible).
After you entered all this you still do not see Form 8606?
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March 28, 2022
6:47 AM