@FTERoo wrote:
After further scenario reviews and testing of calculations, TurboTax is treating the $6,000 2019 contribution as Non-Deductible (correct) and entering that amount on Line 1 of the newly created 8606.
Per the help on Form 8606, ALL data on the 8606 come from other entries and calculation's from TurboTax.
Without PREVIOUS non-deductible contributions, and a current year distribution, the program nets these items together,
Your 2019 contribution should be on the 8606 line 1.
I am not sure what you mean by: "Without PREVIOUS non-deductible contributions, and a current year distribution, the program nets these items together," Nets (adds) what items together?
Any prior year non-deductible contribution entered when the 1099-R interview asks for them should be on the 8606 line 2.
**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.**
