Kavekreeker
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"If the gains are taxable in 2025 (code P in box 7 of the 2026 Form 1099-R), the Form 1040-X will show the change in taxable income and the balance due."I enter...
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Thank you for rapid reply!So really all I need to send IRS is a corrected 8606?
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I understand I need to file amendment outside of TT and direct to IRS.We had Schwab return the nondeductible traditional IRA contribution and gain early Februar...
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Hi,RE: continuing tax drama aboveBackgroundI ran thru TT before the 8606 form was finalized. My wife's entire 2025 IRA contribution was non-deductible which ori...
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Yep, need to call Schwab to arrange return of contribution. I'm hoping this will be a 2026 event so I can finish 2025 TT once 1040s are pushed. Thanks a lot for...
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- Cheered Re: If an IRA contribution is not deductible due to excess MAGI, what should be done? for dmertz. 4 weeks ago
- Posted Re: If an IRA contribution is not deductible due to excess MAGI, what should be done? on Retirement tax questions. 4 weeks ago
- Posted Re: If an IRA contribution is not deductible due to excess MAGI, what should be done? on Retirement tax questions. a month ago
- Posted Re: If an IRA contribution is not deductible due to excess MAGI, what should be done? on Retirement tax questions. a month ago
- Posted Re: If an IRA contribution is not deductible due to excess MAGI, what should be done? on Retirement tax questions. a month ago
- Posted Re: If an IRA contribution is not deductible due to excess MAGI, what should be done? on Retirement tax questions. January 27, 2026 10:37 AM
- Cheered Re: If an IRA contribution is not deductible due to excess MAGI, what should be done? for dmertz. January 27, 2026 10:33 AM
- Cheered Re: If an IRA contribution is not deductible due to excess MAGI, what should be done? for dmertz. January 27, 2026 10:33 AM
- Posted Re: If an IRA contribution is not deductible due to excess MAGI, what should be done? on Retirement tax questions. January 27, 2026 4:43 AM
- Posted If an IRA contribution is not deductible due to excess MAGI, what should be done? on Retirement tax questions. January 25, 2026 7:30 AM
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- Cheered Re: Since you mention Form 8606, presumably the distribution... for fanfare. February 12, 2022 6:17 AM
- Posted Re: Since you mention Form 8606, presumably the distribution... on Retirement tax questions. February 12, 2022 6:10 AM
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