non-deductible vs deductible contributions
If one made a traditional IRA contribution and would have been able to deduct it on their return but did not, can they designate them as non-deductible IRA contributions?
If one made a traditional IRA contribution and would have been able to deduct it on their return but did not, can they designate them as non-deductible IRA contributions?
Permalink Submitted by Denise Appleby on Tue, 2012-05-22 09:17
[quote=”[email protected]“]If one made a traditional IRA contribution and would have been able to deduct it on their return but did not, can they designate them as non-deductible IRA contributions?[/quote]
Yes. One would file IRS Form 8606 to do so