Probably. To keep track of both of your nondeductible and deductible IRA contributions, you need to fill out Form 8606. let's check if you have entered the information through the correct path:
- Open your return if it isn't already open.
- Inside TurboTax, search for this exact phrase, including the comma: 8606, nondeductible ira contributions
- Select the Jump to link in the search results.
- Proceed through the IRA section, answering questions as you go.
- When you reach the screen Any nondeductible contributions to [taxpayer's] IRA? answer Yes, then continue. We'll generate and fill out the 8606 behind the scenes.
For more information about Form 8606, click here: Nondeductible IRA contributions
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