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jwgall
New Member

I filed a form 8606 for 2006 before I was using Turbo Tax, Should I ignore the question about having a non-deductible contribution to my IRA prior to 2016?

If this question is asked every year by Turbo Tax would I answer yes year after year?

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Coleen3
Intuit Alumni

I filed a form 8606 for 2006 before I was using Turbo Tax, Should I ignore the question about having a non-deductible contribution to my IRA prior to 2016?

You would absolutely want to include the amount of your non-deductible contributions. If they are not taken into consideration when the time comes, all your IRA distributions will be taxable.

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2 Replies
Coleen3
Intuit Alumni

I filed a form 8606 for 2006 before I was using Turbo Tax, Should I ignore the question about having a non-deductible contribution to my IRA prior to 2016?

You would absolutely want to include the amount of your non-deductible contributions. If they are not taken into consideration when the time comes, all your IRA distributions will be taxable.

dmertz
Level 15

I filed a form 8606 for 2006 before I was using Turbo Tax, Should I ignore the question about having a non-deductible contribution to my IRA prior to 2016?

And yes, answer Yes every year and confirm that TurboTax has transferred in the correct net basis in nondeductible traditional IRA contributions shown on your most recently filed Form 8606 (usually line 14).  If you ever answer No, TurboTax will silently delete your basis from its tracking.
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