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Get your taxes done using TurboTax
There appears to be a problem in turbotax when you try to use form 8606 to reflect your basis in previous non-deductible IRA contributions and also use form 8915-e for a Covid-19 eligible IRA withdrawal. When you input your basis for non-deductible IRA contributions on form 8606, form 8915 does not spread the Covid-19 eligible withdrawal over 3 years. It puts the entire withdrawal amount in 2020 taxable income. Does anyone know how to fix this?
March 2, 2021
9:45 AM