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So to be clear, Randall's client may be able to do this. Randall, you are correct that the income limit doesn't apply for contributing the maximum allowed for his/her age AND IF is designated as nondeductible as long as the person actually does have compensation that would qualify him/her to contribute in the first place. The income limitation comes into play when they want to deduct the traditional IRA.

Box 1 adjustments. Code O.

Correct. Mine have -0- balance in the trad iras because their financial advisors started from the beginning with these higher income individuals that didn't have IRAs at all, and then have always immediately converted to the Roths.

As far as I know, "Backdoor Roths" are still allowed for 2022 and so far for 2023 too. It was tried to be shut down with legislation last year but did not pass in the Senate iirc. Taxpayer must obey the rules for contribution limits (age-related limit, him/her/spouse covered by retirement plan, and must have compensation to allow the contribution) but should be able to contribute and designate as nondeductible. The nondeductible contribution is then immediately converted to a Roth before any earnings in the Trad IRA, which utilizes a loophole in the tax law that allows the higher income taxpayer to circumvent the income limits for contributing directly to a Roth. I have clients that have been doing this for years. Does anyone have a cite to the contrary that says this has been shut down?

Sent me a link!!!!!

Had a similar situation only it was 28 trips in total to 10 different organizations. Weill try and remember the 12/31 trick next year.

If you are using ATX, page 2, Part V, Section 5. In Fixed Assets listing, add Vehicles in Category and complete the other fields appropriately. One of the tabs will be Auto/Listed Information with all the same questions as you know or you can choose Standard Mileage with all that data needed. Pretty easy, actually.

I would insist on copies of the actual monthly statement from the first fiduciary showing the the distribution and the date distributed and the actual monthly statement from the second fiduciary showing the amount received and the date it was received. While it's possible that the distribution code is wrong it's equally possible that your client is wrong.

Based on this I wonder what I am?

The point is now moot. We put in an offer on a home on Thursday and the sellers accepted on Friday. Assuming the inspections don't show a problem that causes us to rescind our offer, we have bought a house. And I went to the cable company in the area and did the sign up, all the way until they asked for payment, so I am pretty sure I am going to be able to get Gig speed internet at our home. Thanks for all your help. Tom Sparks, NV