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calubar
New Member

My wife and I both made an IRA contribution in 2016. It won't be deductable --income level and 401K. But we plan to convert it to a ROTH. What form to repot it?

 
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KenH1
New Member

My wife and I both made an IRA contribution in 2016. It won't be deductable --income level and 401K. But we plan to convert it to a ROTH. What form to repot it?

When you are going through the IRA contribution interview (Deductions & Credits > Retirement and Investments > Traditional and Roth IRA Contributions), the software will tell you that you made a non-deductible contribution, and produce a form 8606.  This form reports your IRA basis, which you will need next year when you report the conversion.

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KenH1
New Member

My wife and I both made an IRA contribution in 2016. It won't be deductable --income level and 401K. But we plan to convert it to a ROTH. What form to repot it?

When you are going through the IRA contribution interview (Deductions & Credits > Retirement and Investments > Traditional and Roth IRA Contributions), the software will tell you that you made a non-deductible contribution, and produce a form 8606.  This form reports your IRA basis, which you will need next year when you report the conversion.

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