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Retirement tax questions
After looking at the actual forms I think what would resolve the issue would be if I could get my contribution amount onto Form 8606, line 8 which the IRS website instructions say: "If, in 2021, you converted any amounts from traditional, SEP, or SIMPLE IRAs to a Roth IRA, enter on line 8 the net amount you converted."
How could I do this? Am I going about this in the wrong way?
For this year because of higher deductions, my wife and I can contribute directly to a Roth IRA so lines 1-5 of Form 8606 will be blank since the non-deductible contribution was reported last year since it was a 2020 contribution and the conversion/rollover happened in 2021 before the extended time limits for the 2020 contributions ended.
March 16, 2022
6:15 PM