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Retirement tax questions
Box 7 is 7.
TT actually required me to uncheck the "spouse" column of the 8606 worksheet (and delete all of the entries in the spouse column) so I recorded all of the data as supporting information and made a copy for my records. (the proportion of the non-deductible contributions is so small compared to the current value of the IRA that it hardly makes any impact on the taxable portion of the distribution)
As a footnote, the custodian wanted to just roll my wife's traditional into my existing traditional, but I asked them to create a new separate account so I could keep these types of records separate as needed.
Thanks for your expertise.
‎April 12, 2024
3:06 PM