I carefully read through your answer to this 2019 question because it applies perfectly to my situation in 2020 and your steps are the same steps I have followed. EXAMPLE: I have a 2020 1099-R for my traditional IRA that shows my $125,000 distribution in Box 1 and the same amount as taxable in Box 2a. There is a 7 in Box 7. My IRA has no “Basis” (nondeductible contributions) so everything I took as a distribution plus what I converted to a Roth IRA in 2020 is taxable. $100,000 of my distribution was converted the same day to a Roth IRA and the other $25,000 was a normal distribution. Because of the 2020 Cares Act, I did not mark anything as an RMD. I typed in the $100,000 when asked how much was converted to a Roth IRA and left the other box blank. Once all 1099-Rs were entered, I finished by answering the questions after CONTINUE at the bottom of the 1099R entries screen.
For some reason the $25,000 normal distribution I took does not show up on my 1040 Line 4b as being taxable! On the FORMS list, a ❗️8606-T (Not done) is listed. The 8606 Part 1 is blank. Part II Line 16 is $100,000. Line 17 is blank. Line 18 is $100,000. I have no “basis” and made no contributions in 2020 but doesn’t the ❗️indicate that perhaps Part 1 should be filled out? And if so, how do I do it since obviously it did not come up during my Step-by-Step questions. I did answer a Continue question about the Fair Market Value of all my IRAs on 12/31/2020 but even that amount does not show on 8606 Part 1, Line 6. At this point I am stumped and obviously the $15,000 refund on my Federal return is wrong! 🤣 I really hope you can help me fix this on TurboTax Deluxe CD/Download Windows. Thank you.
