Due to retirement in 2023 I did a full direct rollover from my 401K to IRA. The rollover contained after tax dollars in my 401K that were converted to a Roth IRA. The entire transaction was reported on one 1099-R. The total amount of the rollover was reported in Box 1, there was no dollar amount in Box 2 and Box 2 was checked Total Distribution, Box 5 contained the after tax contribution to the Roth IRA. Box 7 was coded G. The IRA/SEP/SIMPLE was not checked. I received two separate Form 5498's, one for the rollover to the Traditional IRA and one for the rollover of after tax dollars to the Roth IRA . My question is, does the amount in box 5 (the 401k after tax contributions rolled to the Roth) need to be reported on a 8606 to report the basis? I am past 60 and plan to hold the Roth for at least 5 years. I don't think I need it, but want to be sure. I am finding conflicting information. I have entered all the information into Turbo Tax for the 1099-R and no 8606 is being generated. I have tried separating the two rollovers and entering each as a separate 1099 and still no 8606 is generated. Thanks for your feedback.
