DanaB27
Expert Alumni

Retirement tax questions

Yes, you will enter the $6,000 nondeductible traditional IRA contribution for 2020 on your 2020 tax return with the steps above. 

 

Yes, you will enter the $6,000 nondeductible contribution for 2021 on your 2021 tax return. You also enter the $6,000 basis from 2020 Form 8606 line 14 when TurboTax asks about a prior-year basis. Yes, you will import the Form 1099-R with the full $12,000 on your 2021 tax return.

 

@Jenny011

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