Form 8606 Non-Deductible IRAs
Background
I have a larger traditional IRA with a small non-deductible portion. I converted part of this traditional IRA to a Roth IRA this past year, in 2023, so I must file Form 8606. This is the second time I have converted some of this IRA to a Roth, so the second Form 8606 I have done.
Also, I have had an inherited traditional IRA that I have had to take RMDs for several years.
My Question
Unlike the first time I did a Roth conversion, TurboTax is putting the inherited IRA RMD distribution in line 7 and the product of the RMD distribution times line 10 in line 12! This seems odd that the inherited IRA is getting mixed in here with my IRA and it seems to conflict with what TurboTax did in 2020 for my first Roth conversion.
Does this make sense? Does anyone have any thoughts or hopefully solutions?
Thank you!!
February 17, 2024
5:27 PM
