Is there something I do about after-tax contributions when figuring the retirement income? TurboTax asked if we have after-tax contributions.

kamuanyi — Sat, 01 Jun 2019 07:38:55 GMT

After-tax contributions are usually traditional IRA contr...

KenH1 — Sat, 01 Jun 2019 07:38:57 GMT

After-tax contributions are usually traditional IRA contributions that were not deductible when contributed. This will affect how they are taxed when withdrawn.

If your retirement account is an employer-sponsored plan such as a pension, 401k, 403b, or TSP, then you can ignore these questions by clicking continue.

If it was a traditional IRA that was always deductible, skip over or click continue.

If you ever had non-deductible contributions to an IRA, you need to report that when asked. This will benefit you tax-wise.

topic Is there something I do about after-tax contributions when figuring the retirement income? TurboTax asked if we have after-tax contributions. in Retirement tax questions

Is there something I do about after-tax contributions when figuring the retirement income? TurboTax asked if we have after-tax contributions.

After-tax contributions are usually traditional IRA contr...