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Retirement tax questions
If you converted from a traditional IRA to a Roth IRA and enter the Form 1099-R correctly, TurboTax will generate Form 8606 to report the conversion.
If the Form 1099-R from the payer has the IRA/SEP/SIMPLE box marked, make sure that you have marked this box on TurboTax's 1099-R form. If the IRA/SEP/SIMPLE box on the Form 1099-R provided by the payer is not marked, the distribution was from a qualified retirement plan like a 401(k) , not from an IRA, and is not reportable on Form 8606.
‎January 30, 2021
5:56 AM