Retirement tax questions
We'll automatically generate and fill out Form 8606 (Nondeductible IRAs) if you reported any of these on your tax return:
- Nondeductible contributions made to a traditional IRA
- Distributions from a traditional, SEP, or SIMPLE IRA that had nondeductible contributions (excluding rollovers, conversions, recharacterizations, qualified charitable distributions, one-time distribution to fund an HSA, or return of certain contributions)
- Conversions from a traditional, SEP, or SIMPLE IRA to a Roth IRA
- Distributions from a Roth IRA (other than rollovers, recharacterizations, or a return of certain contributions)
Since you had no non-deductible contributions to report in 2022, Form 8606 was not generated for you.
However, if you had prior year non-deductible contributions, you can trigger Form 8606 by answering YES to 'prior year non-deductible contributions' in the IRA Contributions section. You will enter the Basis from your most recent Form 8606.
Here's more info on Form 8606.
