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Get your taxes done using TurboTax
Nothing has changed with regard to TurboTax generating Form 8606. If your tax return includes no transaction required to be reported on Form 8606, TurboTax properly excludes Form 8606 from your tax return. Your last filed Form 8606 is still current with resect to reporting your basis in nondeductible traditional IRA contributions that carries forward.
A distribution from the inherited IRA is not reported on the Form 8606 within TurboTax. If the a distribution from an inherited IRA is appearing on that form, edit the entry of this Form 1099-R and be sure to answer Yes when asked if you inherited the distribution from XXX.
March 20, 2024
10:13 AM