Hi,
In Form 8606, Line 1, should that include all traditional IRA accounts (including SEP-IRA which I understand is a type of traditional IRA)?
I started doing freelancing on the side 4 years ago. I have made contributions to my SEP-IRA based on my 1099 income. Every year, I made sure the account balance is $0 (or very closed to it) for both my SEP-IRA and Traditional IRA by immediately converting all the after tax contributions to my Roth IRA (backdoor conversion). However, I just discovered that Turbotax has not generated Form 8606 for the past 4 years (I neglected to answer all the questions under Personal>"Choose What I work on">"Deduction and Credits">"Retirement & Investments" in Turbotax even though I imported all tax forms from my IRA custodian). I am trying to find out how to properly document Form 8606 so it doesn't cause problems for me in the future. Thanks.
