AnnetteB6
Expert Alumni

Retirement tax questions

I created a similar test case and could see that the program does indeed ask you about the value of your Traditional IRA accounts even if you indicate that no non-deductible contributions were made.  

 

Through that test case I could see the Form 8606 that is generated and even when a value is entered for the IRA accounts as of 12/31/2020, the Form 8606 is not completed with that value.  Part I of Form 8606 is blank as would be expected.  

 

There should be no issues with your return whether or not you enter the total value of your Traditional IRA since non-deductible contributions are not a factor for your taxes.

 

@mo4150

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