Hello everyone:
I listed information below for reference purpose:
You'll need to sign in or create an account to connect with an expert.
Enter IRA contributions here:
Federal Taxes,
Deductions & Credits,
I’ll choose what I work on (if that screen comes up),
Retirement & Investments,
Traditional & Roth IRA contribution.
OR Use the "Tools" menu (if online version under My Account) and then "Search Topics" for "ira contributions" which will take you to the same place.
Form 8606 is used to report your non deductible and deductible contributions. Read a complete discussion here.
Whether to contribute to a traditional or Roth IRA depends on many factors such as your expected tax bracket when you retire. Since your contributions now have no tax advantage, a Roth might be a good choice. Since you are a Vanguard client you might want to discuss this with your client representative.
Enter IRA contributions here:
Federal Taxes,
Deductions & Credits,
I’ll choose what I work on (if that screen comes up),
Retirement & Investments,
Traditional & Roth IRA contribution.
OR Use the "Tools" menu (if online version under My Account) and then "Search Topics" for "ira contributions" which will take you to the same place.
Still have questions?
Make a postAsk questions and learn more about your taxes and finances.
sunshineInTheRain
Level 3
berolee
Level 1
bhJogdt
Level 2
VAer
Level 4
bethfly
New Member
Did the information on this page answer your question?
You have clicked a link to a site outside of the TurboTax Community. By clicking "Continue", you will leave the Community and be taken to that site instead.