If all I have $67 and $134 in Total Ordinary dividends in two separate Trusts, am I required to file? Are these considered taxable income?
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answered on Mar 23, 2023
If there are no other elements to the returns, you should not need to file.
In 2020 I contributed to trad IRA $6000 as after tax money and bought some ETF with this. I used form 8606 to report them as nondeductible contributions. In 2021 I sold those ETF on tad IRA and got $5986. So it was loss of $14. Now I added additional $6000 as after tax money to trad IRA. So in... View More 
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answered on Mar 23, 2023
You need to enter your basis (amount your contributed that was nondeductible). Based on what you shared, the result should be no taxable distribution.
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