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Retirement tax questions
There is only one Form 8606 per individual. Traditional IRA distributions appear on Part I or Part II while Roth IRA distributions appear on Part III, but only if they are not qualified Roth IRA distributions. Qualified Roth IRA distributions don't appear anywhere on Form 8606. TurboTax properly reports each on the separate parts and properly keeps traditional IRA basis separate from Roth IRA basis.
Make sure that when TurboTax asked for your contribution basis in traditional IRAs for years prior to 2019 that you did not include your Roth IRA basis. TurboTax separately tracks traditional IRA basis and Roth IRA contribution and conversion basis.
‎July 8, 2020
2:00 PM