Entered a 1099-R for distribution from a traditional IRA. I have Nondeductible IRA contributions and complete a Form 8606 every year to keep track of the basis. This year (2024), the software does not generate a Form 8606 to calculate the taxable portion of the distribution and track the basis. The software populated the IRA distribution to Line 5a (Pensions & annuities) on Form 1040. The distribution should have populated to Line 4a (IRA distributions) on Form 1040. The amounts in Lines 4a and 5a cannot be overriden.
I have contacted Intuit customer service to report the software problem. I wonder if anyone else has encountered this problem this year. Every other year the 8606 generated no problem and the IRA distribution was populated to Line 4a on the Form 1040.
