@CCDAve wrote:
I have the same problem. My wife and I both have a non-deductible IRA basis that is carried forward each year on a Form 8606. This year the IRA worksheet shows it properly updated for our 2021 taxes, but only my 8606 is generated for our tax return. She has no 8606 form to print out for our records, I can only get to it thru the IRA worksheet. I'm concerned the IRS won't get her 8606. Is this a TurboTax bug? Any suggestions?
Did your wife make a new non-deductible 2021 contribution or have a 2021 distribution? 8606 forms are only generated if the non-deductible basis changes, otherwise the last filed 8606 remains active until the basis changes.
You don't normally enter a 8606 itself. It is automatically created when:
1) You make a new non-deductible Traditional IRA contribution.
2) You take a distribution from a IRA that has a after-tax "basis".
3) You make a conversion of a retirement account to a Roth IRA
4) You have distribution from Roth IRA.
[For more information:
See IRS 8606 instructions
https://www.irs.gov/pub/irs-pdf/i8606.pdf
"Who must file" page 1.]
If none of those occurred, then the last filed 8606 remains in effect
There are some circumstances when a 8606 must be files for other reasons and might require filing a stand-alone 8606.
https://ttlc.intuit.com/questions/1899503-what-is-form-8606-nondeductible-iras-used-for
**Disclaimer: This post is for discussion purposes only and is NOT tax advice. The author takes no responsibility for the accuracy of any information in this post.**
