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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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1 Solution

Accepted Solutions
sjrcpa
Level 15

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


Ex-AllStar

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2 Comments 2
George4Tacks
Level 15

** Delete *** spoke incorrectly


Here's wishing you many Happy Returns
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sjrcpa
Level 15

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


Ex-AllStar