AnnetteB6
Expert Alumni

Retirement tax questions

The problem is in the section where you indicated that you made non-deductible contributions to the Traditional IRA.  The contribution that was made for 2020 should have been reported on your 2020 tax return.  This would have generated a Form 8606 that would show the basis in the Traditional IRA.

 

For your 2021 return, you should indicate that you have made a non-deductible contribution to your Traditional IRA for 2021 ($6000).  Then, as you go through the questions in that section, indicate that you have made previous non-deductible contributions.  This is where you can include the $6000 contributed for 2020.  

 

@ucjade

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