This is the first time, I am contributing after tax dollars to a new IRA account. I am converting tomorrow to Roth IRA. My question is, for tax year 2020, all I need is to update part-1 of 8606. There is one question that appears in Deduction and Credits --> IRA, which looks remotely near
Any Nondeductible Contributions to my IRA?
Let us know if you made and kept track of any nondeductible contributions to traditional IRA from 2019 or prior years (This is not common)
Yes, You made and tracked nondeductible contributions to your IRA
No, You did not make and track nondeductible contributions to your IRA
I choose Yes, even if I made a contribution only this year in 2021 for tax year 2020
Now before I efile, I want to be sure Form 8606 with Part 1 is created so that I don't have problem next year. How do I make sure, Form 8606 is present. (I want to avoid the hassle of amending)
