Non-Deductible

[jd114]

I was informed by my bank that I made a non-deductible contribution.  A low amount.  Not sure why.  

I've already incorporated my Traditional Roth IRA into my deductible.  Is their any need to add this as well?

[HelenC12]

Yes. Any money you contribute to a traditional IRA that you do not deduct on your tax return is a “nondeductible contribution.” You still must report these contributions on your return, and you use Form 8606 to do so.

• Reporting them saves you money down the road. That’s because no individual’s money is supposed to be subject to federal income tax twice.
• Form 8606 gets it “on the record” that a portion of the money in your IRA has already been taxed.
• Later on, when you take distributions, a portion of the money you get back will not be subject to income tax. Source: TurboTax

We'll automatically generate and fill out Form 8606 (Nondeductible IRAs) if you reported any of these on your tax return. See Where do I find Form 8606?