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762-MM
New Member

Is Form 8606 data transmitted with a TT/Intuit eFile...or do we need to print/manually mail them to the IRS? Years ago with TT...one had to manually mail in the form.

 
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macuser_22
Level 15

Is Form 8606 data transmitted with a TT/Intuit eFile...or do we need to print/manually mail them to the IRS? Years ago with TT...one had to manually mail in the form.

Yes it is if required.  If you made a new non-deductible Traditional IRA contribution, had a distribution from an IRA that had a basis, or did a Roth conversion.

A 8606 must be manually prepared for an inherited IRA with a basis because the IRS does not allow e-filing it.

**Disclaimer: This post is for discussion purposes only and is NOT tax advice. The author takes no responsibility for the accuracy of any information in this post.**

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12 Replies
macuser_22
Level 15

Is Form 8606 data transmitted with a TT/Intuit eFile...or do we need to print/manually mail them to the IRS? Years ago with TT...one had to manually mail in the form.

Yes it is if required.  If you made a new non-deductible Traditional IRA contribution, had a distribution from an IRA that had a basis, or did a Roth conversion.

A 8606 must be manually prepared for an inherited IRA with a basis because the IRS does not allow e-filing it.

**Disclaimer: This post is for discussion purposes only and is NOT tax advice. The author takes no responsibility for the accuracy of any information in this post.**
762-MM
New Member

Is Form 8606 data transmitted with a TT/Intuit eFile...or do we need to print/manually mail them to the IRS? Years ago with TT...one had to manually mail in the form.

Thanks for the quick response.  I do understand when and how the 8606 is used.  My question pertains to e-filing and Turbotax.  Can you clarify the answer? Is the form e-filed with my return, or do I need to print it and mail it manually.  Seems odd that the form data isn't sent in with the rest of the forms, schedules, etc.  I do see that you mention manually preparing for an inherited IRA with basis, but what about more normal uses, such as annual non-deductible contributions.  TT years ago instructed to print and mail, but that note no longer exists.  Again - thank you very much for the response and clarity.
macuser_22
Level 15

Is Form 8606 data transmitted with a TT/Intuit eFile...or do we need to print/manually mail them to the IRS? Years ago with TT...one had to manually mail in the form.

The answer is the same.  Yes it is part of the return if it is required whether the return is e-filed or mail filed.   It is not part of the return if you did not If you made a new non-deductible Traditional IRA contribution, had a distribution from an IRA that had a basis, or did a Roth conversion.

Non-deductible Traditional IRA contributions do create a 8606 that will be part if the tax return when the contribution is entered in the IRA contribution interview and specified that it is to be non-deductible when the interview asks unless automatically non-deductible because of high income limits.

See:
<a rel="nofollow" target="_blank" href="https://ttlc.intuit.com/questions/1899503-what-is-form-8606-nondeductible-iras-used-for">https://ttl...>
**Disclaimer: This post is for discussion purposes only and is NOT tax advice. The author takes no responsibility for the accuracy of any information in this post.**
nfp0824
Level 2

Is Form 8606 data transmitted with a TT/Intuit eFile...or do we need to print/manually mail them to the IRS? Years ago with TT...one had to manually mail in the form.

Hi @macuser_22, I just came across this reply of yours while looking for some information.  I'm trying to get our 2019 return filed as quickly as possible because it has significantly lower AGI than our 2018 return, and I'd like to qualify for a larger stimulus check.  However, we do have an inherited IRA with basis from which we took a required distribution in 2019.  I'm trying to determine if I can e-file the bulk of our return and just manually prepare, print and mail form 8606 so I can get our 2019 return processed quicker.  Do you know if this is allowed, and would it even process quicker if the one form is not present?

 

Thanks

Critter
Level 15

Is Form 8606 data transmitted with a TT/Intuit eFile...or do we need to print/manually mail them to the IRS? Years ago with TT...one had to manually mail in the form.

You can file now and amend later if needed ... the form 8606 can also be filed on it's own. 

Critter
Level 15

Is Form 8606 data transmitted with a TT/Intuit eFile...or do we need to print/manually mail them to the IRS? Years ago with TT...one had to manually mail in the form.

 
macuser_22
Level 15

Is Form 8606 data transmitted with a TT/Intuit eFile...or do we need to print/manually mail them to the IRS? Years ago with TT...one had to manually mail in the form.


@nfp0824 wrote:

Hi @macuser_22, I just came across this reply of yours while looking for some information.  I'm trying to get our 2019 return filed as quickly as possible because it has significantly lower AGI than our 2018 return, and I'd like to qualify for a larger stimulus check.  However, we do have an inherited IRA with basis from which we took a required distribution in 2019.  I'm trying to determine if I can e-file the bulk of our return and just manually prepare, print and mail form 8606 so I can get our 2019 return processed quicker.  Do you know if this is allowed, and would it even process quicker if the one form is not present?

 

Thanks


A 8606 for an inherited IRA with a basis can ONLY be manually prepared and mailed.  Since an inherited IRA must be kept in the name of the deceased TurboTax only supports 8606 forms for the taxpayer and spouse.

**Disclaimer: This post is for discussion purposes only and is NOT tax advice. The author takes no responsibility for the accuracy of any information in this post.**
nfp0824
Level 2

Is Form 8606 data transmitted with a TT/Intuit eFile...or do we need to print/manually mail them to the IRS? Years ago with TT...one had to manually mail in the form.

@macuser_22  So, does that mean the ENTIRE return must be manually prepared and mailed, or just form 8606?  That's the part that I'm not clear about.  Can I e-file the rest of the return and manually prepare, print and mail JUST 8606?  Thanks.

nfp0824
Level 2

Is Form 8606 data transmitted with a TT/Intuit eFile...or do we need to print/manually mail them to the IRS? Years ago with TT...one had to manually mail in the form.

@Critter I'd like to avoid having to do an amended return if possible.  To your knowledge, can I just file 8606 by mail without it involving an amended return?  In other words, can I e-file my return showing the reduced, taxable portion of our distribution with no supporting 8606 in the e-file submission,  and then, just send the printed, supporting 8606 later?  If you think this is possible, do you know if there is an IRS publication that gives the instructions for doing this?  Thanks.

Critter
Level 15

Is Form 8606 data transmitted with a TT/Intuit eFile...or do we need to print/manually mail them to the IRS? Years ago with TT...one had to manually mail in the form.

 
Critter
Level 15

Is Form 8606 data transmitted with a TT/Intuit eFile...or do we need to print/manually mail them to the IRS? Years ago with TT...one had to manually mail in the form.

It is a stand alone form ... https://www.irs.gov/forms-pubs/about-form-8606

macuser_22
Level 15

Is Form 8606 data transmitted with a TT/Intuit eFile...or do we need to print/manually mail them to the IRS? Years ago with TT...one had to manually mail in the form.


@nfp0824 wrote:

@macuser_22  So, does that mean the ENTIRE return must be manually prepared and mailed, or just form 8606?  That's the part that I'm not clear about.  Can I e-file the rest of the return and manually prepare, print and mail JUST 8606?  Thanks.


No.  Only the 8606 for the inherited IRA must be manually prepared, but yes,  it must be part of your 2019 tax return so the entire return can only be mail filed with the 8606 attached.  You mist enter the 1099-R for the inherited  IRA on the tax return and the 8606 must be part of that tax return to support what you claim.

 

[Nothing requires you to report the basis in an inherited IRA.  If that basis is small and the tax savings are small, sometimes it makes sense to not report it at all and just pay the additional tax and avoid the 8606 all together.]

 

 

**Disclaimer: This post is for discussion purposes only and is NOT tax advice. The author takes no responsibility for the accuracy of any information in this post.**
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