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Retirement tax questions
"So step 8 should be $8000 and Step 9 should be $8698.73, Is that a correct assumption? Which form will this generate in Turbo Tax? Is that 5498 or something else?"
Yes.
"Then, I'll also complete "Step 1: Enter the Non-Deductible Contribution to a Traditional IRA" from the following:"
No. Do not separately enter a traditional IRA contribution. Indicating that you recharacterized the Roth IRA contribution already accomplishes the traditional IRA contribution entry.
Saturday