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Retirement tax questions
That's not entirely true. Qualified Charitable Distributions and HSA Funding Distributions are not to be included on line 7. Also, Roth conversions (a type of IRA distribution) are to be included on line 8, not on line 7.
Also, distributions from retirement accounts that are not IRAs are not to be included on Form 8606. Only distributions reported on a Form 1099-R that has the IRA/SEP/SIMPLE box marked should appear on line 7 or line 8. Make sure that you have correctly marked that box on TurboTax's 1099-R form in agreement with the marking of that box on the Form 1099-R provided by the payer.
March 27, 2025
1:26 PM