Form 8606 Line 4 error

Forum|Forum|3 years ago
March 25, 2023
1 reply
13 views

My spouse and I each made payments to traditional IRAs in the spring of 2023 for the 2022 tax year, that we plan to do backdoor Roths with. We entered the amount in the IRA deductions section of the turbotax software correctly, and the software generated form 8606 for each of us as it should.

HOWEVER - when we went to file and reviewed the return, there was an error. Line 4 of form 8606 (the amount contributed between Jan 1 and Apr 18, 2023) is blank - and it should have the amount that we contributed on it. I cannot figure out how to edit that line in the tax return to correct it. Seems like a bug in the system...any suggestions?

TurboTax Premier Online

Best answer by DanaB27

Please be aware that line 4 of Form 8606 only needs to be filled out if you made a conversion (or distribution) from your traditional, Sep, or SIMPLE IRA. Your conversion will happen in 2023.

Please note how it says on Form 8606 under line 3 "In 2022, did you take a distribution from traditional, SEP, or SIMPLE IRAs, or make a Roth IRA conversion?" and then if the answer is "No" then "Enter the amount from line 3 on line 14. Do not complete the rest of Part I."

DanaB27Answer

Level 15

Please be aware that line 4 of Form 8606 only needs to be filled out if you made a conversion (or distribution) from your traditional, Sep, or SIMPLE IRA. Your conversion will happen in 2023.

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