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Retirement tax questions
If you entered it a the prior year non-deductible contribution then it should be on the 2020 8606 line 2 - is it?
Also, was the 2020 year end value of all Traditional IRA's zero?
The 8606 calculations should lead you to the problem.
Look at the 2020 8606 lines 1-15 to see the calculations - NOTE: If there is an * next to line 15 then 6-14 will be blank and the calculations will be on the "Taxable IRA Distributions worksheet instead.
**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.**
March 28, 2021
5:24 PM