I have not got an answer yet as to what answer to provide for Question 6 to generate Form 8606. I also went ahead and choose Live Advise support. The first person who chatted with me walked that seven steps for half hour and told me he will transfer me to a specialist, which was just turbo assistant. Secont time, I asked for a call. She spent an hour and half and told, turbotax does, what is allowed and later asked me to share a copy with analyst. I have shared a copy. I am yet to receive a call
I am doing, what is legal. Here is what Form 8606 from IRS say
Use Form 8606 to report:
- Nondeductible contributions you made to traditional IRAs.
- Distributions from traditional, SEP, or SIMPLE IRAs, if you have ever made nondeductible contributions to traditional IRAs.
- Conversions from traditional, SEP, or SIMPLE IRAs to Roth IRAs.
- Distributions from Roth IRAs.
All I want is to report "Nondeductible contributions you made to traditional IRAs" in year 2021 for tax year 2020. Apparently this can be reported to IRS through Form 8606. So need to understand, how I should answer the questions. I have put all questions that I answered to TurboTax to obtain Form 8606 in this topic chain so that others seeking help on this topic can get answers. There are queries on this topic, but answers are vague. So Please help
I am now frustrated with TurboTax after choosing Live Advise. I am being routed to folks who don't have a Clue. A subject matter specialist and Product specialist should have a look and provide an answer. Please oblige.
