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Retirement tax questions
Thank you for your response. I am confused, though. Hopefully you can help me clarify the situation.
a) Since I did not file my 2016 return yet and the contribution was made in 2016, I thought this would be a simple process and that I could treat the contribution as having been originally made to the Traditional IRA instead of to the Roth IRA. Is that correct?
I am confused because you talked about entering the Roth IRA contribution in TurboTax.
b) As for Form 8606: the amount is $3,600 and all of it is deductible (already checked my limit) so I do not need this form correct?
Also, this is not a form from my IRA custodian correct?
c) As for Form 1099-R, if I receive it next year, will I have to enter it in my 2017 return?
Thanks a lot.
a) Since I did not file my 2016 return yet and the contribution was made in 2016, I thought this would be a simple process and that I could treat the contribution as having been originally made to the Traditional IRA instead of to the Roth IRA. Is that correct?
I am confused because you talked about entering the Roth IRA contribution in TurboTax.
b) As for Form 8606: the amount is $3,600 and all of it is deductible (already checked my limit) so I do not need this form correct?
Also, this is not a form from my IRA custodian correct?
c) As for Form 1099-R, if I receive it next year, will I have to enter it in my 2017 return?
Thanks a lot.
‎June 4, 2019
8:20 PM