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IRA Contribution Deduction was disallowed due to AGI

skyworks
Level 5

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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Accepted Solutions
sjrcpa
Level 15

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

The more I know, the more I don't know.

View solution in original post

2 Comments 2
George4Tacks
Level 15

** Delete *** spoke incorrectly


Answers are easy. Questions are hard!
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sjrcpa
Level 15

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

The more I know, the more I don't know.