ThomasM125
Expert Alumni

Deductions & credits

The question is asked in part to help determine if any distributions you took from the retirement plan are not taxable. If you made non-deductible contributions to your retirement account, a portion of your distributions would not be taxable. If you took no distributions during the year, then you don't need to do an amended return.

 

You should complete form 8606 to report and track non-deductible contributions. It is not necessary to amend your 2022 return since you report your basis, or your non-deductible contributions amount,  in your IRA each year that you submit the form 8606. So as long as you complete that entry correctly in the current year on Form 8606 you will be in compliance.

 

[Edited 1/30/24 at 10:51AM PST] @BigBob0923

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