I made nondeductible contribution to a traditional IRA in Nov 2016. When should I file form 8606?

[ChristinaS · Accepted solution]

The 8606 should be on your 2016 1040 tax return.

Enter the Traditional IRA contribution under Deductions and Credits- Traditional and Roth IRA.

If you have the opportunity to deduct it, but prefer to keep it nondeductible, you will be given the opportunity to do so. This will complete the 8606 on your return. You update a Form 8606 in the year of the nondeductible contribution.

[ChristinaS]

Sorry, but what is it you are asking exactly?

[ChristinaS]

(There's nothing incorrect about my answer)

[dmertz]

As TurboTaxChristinaS said, a traditional IRA contribution made in November 2016 must be reported on your 2016 tax return.  If it's a nondeductible contribution, your 2016 tax return must include 2016 Form 8606.

[qxbsc]

Is "2016 form 8606" included in "TurboTax online Premier 2016 "?

[ChristinaS]

Yes. It is generated when you enter a nondeductible IRA contribution. Or when you take money out of an IRA and have nondeductible contributions. Its definitely supported by Premier.