TaxGuyBill
Level 15
07-26-2023
11:26 AM
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In order for it to be treated as nondeductible (with Basis), a 8606 would need to be filed (it can be filed separately from the actual tax return).
However, it would make much more sense to have them "recharacterize" the contributions (which would mean they are a Roth contribution). A Roth makes SO much more sense than a nondeductible Traditional.