FangxiaL
Expert Alumni

Retirement tax questions

You are still on the recharacterization screen. Leave it.

 

Follow these steps instead:

 

Enter the Non-deductible contribution to a Traditional IRA:

 

  1. Open or continue your return
  2. In the search box, type ira contributions and hit the Enter key, select the Jump to ira contributions link in the search results
  3. Select Traditional IRA on the Traditional IRA and Roth IRA screen and Continue
  4. Answer No to Is this a Repayment of a Retirement Distribution?
  5. On the Tell Us How Much You Contributed screen, enter the amount contributed and continue
    • Enter $3,000 for Your total 2021 traditional IRA contributions
    • If you plan to add another $3,000 before 4/18, enter it in the second box
  6. Answer No on the Did You Change Your Mind? screen
  7. Answer No on Any Excess IRA Contributions Before 2021?
  8. Answer Yes, I made and tracked nondeductible contributions to my IRA
  9. Enter $0 (or whatever amount you contributed before 2021 and you did not take a deduction) for Total Basis as of December 31, 2020 on the next screen
  10. Answer the questions on the following screens, until you reach Choose Not to Deduct IRA Contributions. Select Yes, make part of my IRA contribution nondeductible and enter $3,000 in the box. 

Let us know if you need further assistance.

 

@lntnam

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