Last year I contributed $6500 in Traditional IRA as Spousal IRA
but I decided to request excess Traditional IRA contribution removal because of my spouse income limit.
Only $400 can be deductible so I will ask to remove $6100 from last year my contribution.
Once It's done.
Then how much should I enter traditional IRA contribution in turbotax?
Just enter $400? or should I enter the full amount I contributed last year?
I tried entering the full amount but Turbotax didn't ask any kind of excess removal only asked like switch or recharacterization.
Thanks
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You should enter only the $400 contribution for 2023 that will remain in the Traditional IRA into your return.
You should enter only the $400 contribution for 2023 that will remain in the Traditional IRA into your return.
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