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!!
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Yes it is a nondeductible IRA. Include Form 8606 with the tax return.
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Yes it is a nondeductible IRA. Include Form 8606 with the tax return.
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