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Retirement tax questions
Yes, you will not get the screen “Choose Not to Deduct IRA Contributions” if you have a retirement plan at work and are over the income limit. TurboTax will make it nondeductible automatically and you only get a warning and then a screen saying $0 is deductible. TurboTax will create Form 8606 for you to report your basis. You are done with entering your nondeductible contribution.
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March 28, 2022
3:59 AM