- Mark as New
- Bookmark
- Subscribe
- Subscribe to RSS Feed
- Permalink
- Report Inappropriate Content
Retirement tax questions
I've had 2 years in a row where TurboTax seems to have messed up Form 8606. I did non-deductible traditional contributions and then converted them to Roth. I enter the 1099-R information (including the check box for "taxable amount not determined". I indicate it's not an inherited IRA. When asked what I did with the money, I say "I moved the money to another retirement account". And within that "I converted all of this money to a Roth IRA account." A few screens later, when asked if I made any nondeductible contributions to my IRA, I said "yes". My total basis as of 12/31/17 (for 2018) was 0. On the next screen, the value of my account on 12/31/18 was 0. The form 8606-T that is generated does not include the roth conversion amount of line 8, & several subsequent lines. I think that may be messing up the IRS, as they just sent me a notice regarding this issue.
Any ideas?