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IRA Contribution Deduction was disallowed due to AGI

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Level 3

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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Level 15

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


ex-AllStar

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2 Replies 2
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Level 15

** Delete *** spoke incorrectly


ex-AllStar
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Highlighted
Level 15

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


ex-AllStar

View solution in original post