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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:
- Open or continue your return
- In the search box, type ira contributions and hit the Enter key, select the Jump to ira contributions link in the search results
- Select Traditional IRA on the Traditional IRA and Roth IRA screen and Continue
- Answer No to Is this a Repayment of a Retirement Distribution?
- 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
- Answer No on the Did You Change Your Mind? screen
- Answer No on Any Excess IRA Contributions Before 2021?
- Answer Yes, I made and tracked nondeductible contributions to my IRA
- 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
- 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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March 22, 2022
8:04 PM