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Level 2
January 29, 2021
Question

How to enter a nondeductible distribution on form 8606 line 7? When I jump to input and put in data, it does not enter onto the form and the distribution is not taxable.

  • January 29, 2021
  • 1 reply
  • 14 views
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1 reply

qbteachmt
Level 15
January 29, 2021

Distributions are neither deductible or nondeductible. Contributions would be deductible or nondeductible.

I think a few details on the transaction(s) would be helpful.

Don't yell at us; we're volunteers
Level 2
January 29, 2021

The distributions in this case are not deductible.

 

qbteachmt
Level 15
January 29, 2021

Distributions are not deductible. Are you trying to explain that a Nondeductible Contribution was later distributed?

Really, more details for the scenario would be helpful.

I recommend this link:

https://proconnect.intuit.com/community/forms/07?product=Lacerte%20Tax

Put

8606

into the empty search bar, to see topics, such as:

https://proconnect.intuit.com/community/lacerte-tax-discussions/discussion/non-deductible-ira-distribution/01/32686#M5314

https://proconnect.intuit.com/community/proconnect-tax-discussions/discussion/form-8606-back-door-roth/01/89785#M7923

And here:

https://proconnect.intuit.com/community/view-all-articles/07?product=Lacerte%20Tax

 

Don't yell at us; we're volunteers