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IRA contribution amount to put in 2019 Form 8606

I made my traditional IRA contribution of both 2018 ($5,500) and 2019($6,000) in 2019. Can I claim that I made $11,000 contribution when I file 2019 tax? TurboTax keeps telling me that I made excessive contribution and need to withdraw some.

 

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dmertz
Level 15

IRA contribution amount to put in 2019 Form 8606

You can only claim the $6,000 traditional IRA contribution made for 2019 on your 2019 tax return.   The  $5,500 traditional IRA contribution made for 2018 was reportable on your 2018 tax return.  If you did not include the $5,500 contribution on your 2018 tax return you must amend your 2018 tax return.

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2 Replies
dmertz
Level 15

IRA contribution amount to put in 2019 Form 8606

You can only claim the $6,000 traditional IRA contribution made for 2019 on your 2019 tax return.   The  $5,500 traditional IRA contribution made for 2018 was reportable on your 2018 tax return.  If you did not include the $5,500 contribution on your 2018 tax return you must amend your 2018 tax return.

IRA contribution amount to put in 2019 Form 8606

Thanks a lot! It's very helpful.

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