Form 8606 Part 2

[taxn00b123]

Hello - I just noticed after filing that my Form 8606 part 2 is not populating my conversation for the current year. I have entered the 1099-R that was sent and went through the motion of identifying it as a conversion through turbotax. Please help!.

[DanaB27 · Accepted solution]

You might have answered a follow-up question incorrectly. 

To enter a conversion in TurboTax Online:

1. Click on "Search" on the top right and type “1099-R”  
2. Click on “Jump to 1099-R”
3. Click "Continue" and enter the information from your 1099-R
4. Answer questions until you get to “Tell us if you moved the money through a rollover or conversion" screen and choose “I converted some or all of it to a Roth IRA”
5. On the "Here's your 1099-R info" screen click "Continue"
6. Answer "Yes" to "Any nondeductible Contributions to your IRA?" if you had any nondeductible contributions in prior years.
7. Answer the questions about the basis from line 14 of your last filed Form 8606 and the value of all traditional, SEP, and SIMPLE IRAs

To enter a conversion in TurboTax Desktop:

1. Click "Federal Taxes" on the top and select "Wages & Income"
2. Click "I'll choose what to work on"
3. Scroll down and click "Start" next to "IRA, 401(k), Pension Plan (1099-R)" 
4. Answer "Yes" to the question "Did You Have Any of These Types of Income?"
5. Click "I'll Type it Myself"
6. Choose "Form 1099-R, Withdrawal of Money from 401(k) Retirement Plans, Pensions, IRAs, etc."
7. Click "Continue" and enter the information from your 1099-R
8. Answer questions until you get to “What Did You Do With The Money” and choose “I moved it to another retirement account”
9. Then choose “I did a combination of rolling over, converting, or cashing out money.” and enter the amount next to "Amount converted to a Roth IRA account"
10. On the "Your 1099-R Entries" screen click "continue"
11. Answer "yes" to "Any nondeductible Contribution to your IRA?" if you had any nondeductible contributions in prior years.
12. Answer the questions about the basis from line 14 of your last filed Form 8606 and the value of all traditional, SEP, and SIMPLE IRAs

Please see How do I amend my federal tax return for this year? Generally, it is best to wait until your original return has been processed before sending Form 1040-X.  

[taxn00b123]

Hi Dana - Thank you for the reply. I had my 1099-R imported from my brokerage and these questions seem to have skipped. I do remember these popping up generally when I had inputted in years past. Is there any way to manually populate these questions or should I remove my 1099R and enter it in manually?

[DanaB27]

What is the code in box 7 on your Form 1099-R? The questions should have shown up even when you import the Form 1099-R. The only time they don't show up is when someone indicates the whole distribution was a Required Minimum Distribution (RMD) then you won't get the questions because you are not allowed to rollover/convert RMDs.

But you can try to delete and reenter the Form 1099-R to see if you get the follow-up questions.

[taxn00b123]

It was a code 2 for exception. I deleted and re-entered a couple of times but the questions regarding if its a conversion still won't pop up. I'll probably try to delete my 8606 and 1099r to see if this won't reset it. Might be a really bad glitch in the software.

[DanaB27]

Yes, you can try that if you are still having issue I can take a look at your return. You can send us a “diagnostic” file that has your “numbers” but not your personal information. If you would like to do this, here are the instructions for TurboTax Online: 

1. From the left menu select Tax Tools. 
2. Then select Tools below Tax Tools. 
3. A window will pop up which says Tools Center.  
4. On this screen, select Share my file with Agent. 
5. You will see a message explaining what the diagnostic copy is. Click okay through this screen and then you will get a Token number. 
6. Reply to this thread with your Token number and add @DanaB27 . This will allow us to open a copy of your return without seeing any personal information.  

The instructions for TurboTax Download: 

1. On your menu bar at the very top, click "Online"
2. Select "Send Tax File to Agent"  
3. Click "Send"
4. The pop-up will have a token number
5. Reply to this thread with your Token number and add @DanaB27 . This will allow us to open a copy of your return without seeing any personal information.  

We will then be able to see exactly what you are seeing and we can determine what exactly is going on in your return and provide you with a resolution.

[taxn00b123]

Dana - I figured it out. I skipped over the "combination of things" which was inclusive of conversion. That was my dumb mistake. Thankfully, its all non-taxable and I'll just have to send in an amended 8606 vs amending the entire return.

Thanks so much!!!!

[taxn00b123]

Sorry Dana - one last question. I'll have to file an amended 8606 and I can file it alone or with the 1040x. I decided to go with the 1040x thinking I can just efile it vs mailing in the form. However, TT won't let me e-file my amended. Is the reason because the reason behind the filing is the 8606 which will require a paper file?

[RobertB4444]

That may be the reason.  Did you efile the original return?  You can only efile an amendment if the original return was efiled.  

@taxn00b123