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Retirement tax questions
A qualified workplace plan, such as a 401(k) or 403B, is not an IRA. You should not enter any contributions in the IRA section unless you know for sure that you have made contributions to a private IRA that you own outside of any workplace plans.
Most likely, you do not have an IRA and you should remove those contributions from your return.
In the event that you did make contributions to a private IRA and you also have a workplace retirement plan, it is possible that your IRA contributions are not deductible due to your higher income level. In that case, you are required to have a form 8606 to keep track of the nondeductible contributions that you put into a regular deductible IRA.
January 22, 2024
5:56 AM