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iCan I activate form 8608, non deductible ira contribution

 
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MayaD
Expert Alumni

iCan I activate form 8608, non deductible ira contribution

TurboTax will automatically generate and fill out Form 8606 (Nondeductible IRAs) if you reported:

 

  • Nondeductible contributions made to a traditional IRA
  • Distributions from a traditional, SEP, or SIMPLE IRA that had nondeductible contributions (not including rollovers, conversions, recharacterizations, qualified charitable distributions, one-time distribution to fund an HSA, or return of certain contributions)
  • Conversions from a traditional, SEP, or SIMPLE IRA to a Roth IRA
  • Distributions from a Roth IRA (other than rollovers, recharacterizations, or a return of certain contributions)


To trigger the form check, Where do I find Form 8606?

 

Since you already paid tax on your nondeductible contributions, filing the Form 8606 provides the necessary information to avoid double taxation when you take distributions of these contributions later.

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