@miamivicefanatic wrote:
The problem is that when amending the return, there is no opportunity to say that I would like to change the amount I previously entered for nondeductible contributions to traditional IRAs. That question is not presented when I say that I wish to amend my 1099-R. If there is some other place to enter that, I have not found it. That's why I'm asking.
Just go to the IRA contribution section and revisit your prior entry. Delete it and re-enter with the correct amount.
Enter IRA contributions here:
Federal Taxes,
Deductions & Credits,
I’ll choose what I work on (if that screen comes up),
Retirement & Investments,
Traditional & Roth IRA contribution.
OR Use the "Tools" menu (if online version under My Account) and then "Search Topics" for "ira contributions" which will take you to the same place.
If you qualify for a deduction then TurboTax will ask if you want to make it non-deductible. If you do then a 8606 form will be added with the non-deductible amount on line 1.
**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.**
