how does FreeTaxUSA handle POST-TAX traditional IRA contributions? We can't do Roth this year.

MikeSF

In the past, our previous post-tax traditional IRA contributions were carried over from TAX CUT software, this is the first year We will have one using FreeTaxUSA. Can I manually add "total basis from previous years" (IRS Form 8606, line 2)

rachels

https://community.freetaxusa.com/discussion/1639/how-does-freetaxusa-handle-post-tax-traditional-ira-contributions-we-cant-do-roth-this-year

Hi MikeSF,

Yes, you can add that information, assuming you are required to file Form 8606 this year. For example, if you made nondeductible traditional IRA contributions in 2024, you will be asked to enter your prior year traditional IRA basis (ie. the nondeductible amount you previously contributed in prior years). This information will then be entered on your Form 8606.

MikeSF

IRS Form 8606, line 2