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Retirement tax questions
Hello there, it is in that section. I had to withdraw $2000 from the IRA in 2021 because when I was doing my 2020 taxes, TT told me I couldn't contribute the full $5000. (This was because of the unusual jump in income from hubby selling his rental house).
So I guess a better way for me to ask my question is (before I confuse MYSELF any more!) how does that distribution affect what I enter into TT for my IRA contribution for 2021?
Again - I deposited $5000 into the account in January 2021. I withdrew $2000 from the account in May when I was doing my 2020 taxes, on TT's instructions. What do I enter for my 2021 contribution? Thank you again.
‎January 13, 2022
2:34 PM