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Level 2
April 17, 2025
Solved

Form 8606 Part 2

  • April 17, 2025
  • 8 replies
  • 64 views

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!.

    Best answer by DanaB27

    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.  

    8 replies

    DanaB27Employee Tax ExpertAnswer
    Employee Tax Expert
    April 17, 2025

    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.  

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    Level 2
    April 19, 2025

    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?

    Level 15
    April 25, 2025

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

     

    @taxn00b123 

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