skyworks
Level 5
07-09-2020
10:14 PM
- Mark as New
- Bookmark
- Subscribe
- Permalink
- Report Inappropriate Content
Hi,
The taxpayer's traditional IRA deduction was disallowed due to modified adjusted gross income in excess of the threshold amount.
Does this contribution automatically count as NONE deductible IRA?
Given the fact that the contribution was added to an existing traditional IRA account!!
Best Answer Click here
Labels
George4Tacks
Level 15
07-10-2020
12:47 AM
- Mark as New
- Bookmark
- Subscribe
- Permalink
- Report Inappropriate Content
** Delete *** spoke incorrectly
Answers are easy. Questions are hard!
sjrcpa
Level 15
07-10-2020
08:54 AM
- Mark as New
- Bookmark
- Subscribe
- Permalink
- Report Inappropriate Content
Yes it is a nondeductible IRA. Include Form 8606 with the tax return.
The more I know the more I don’t know.
