DaveF1006
Expert Alumni

Get your taxes done using TurboTax

You shouldn't need to put anything on the 8606 form.  Turbo Tax will do this automatically for you if you have a non-deductible contribution that needs to go on the 8606. If you did not generate an 8606 prior to this year, delete this 8606 and then start over.  Make sure that 1099R is entered correctly with the information.  Once you delete the 8606, go through these steps to generate in back into your return.

If you never had an 8606 generated in your return, you need to do the following to produce a clean 8606.

 

1) go to federal>deductions and credits>all tax breaks>Traditional and Roth IRA Contributions

 

2) Navigate through the questions until it asks if if you made non-deductible contributions, here you will say "yes"

 

3) then if you made a contribution in 2019 you will say yes or no

 

4) Navigate through the interview to where it asks if Any Nondeductible Contributions to Your IRA? here you will say yes

 

5) The Next screen says Let's find your IRA basis  Type in total basis as of Dec 31,2018 as whatever the basis amount is. 

 

6) then it will ask if you wish to make the current year's deduction non-taxable. 

 

7)  After the process is complete, you will have a 8606 generated, that reflects your prior year's basis plus this years if you made a non-deductible contribution again this year.

 

If you are trying to put this on the 8606 form itself, cease !! If you still have problems, contact phone support for further assistance.  They have the ability to  view your screen and pinpoint any potential issues.

 

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