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Retirement tax questions
Hi Dave:
After investigating and searching info regarding Form 8606. I think TT system can't generate 2025 form 8606 because I made a mistake not taking RMD in the Rollover IRA by December 31st, 2025, Thus, no activities was made in 2025 Rollover IRA and TT system is not triggered to generate the 2025 form 8606 though it shows line 2 and 3 for the beginning balance of non deductible IRA (meaning my input is correct). That is why nothing else shows data on 2025 form 8606.
I went into 2025 smart worksheet for form 8606, it does show the correct beginning balance of non deductible IRA and total Traditional IRA at 12/31/25 propertly (meaning my onput iss correct).
All is filled in properly in 2025. So I think there is no activity in Traditional IRA account as I forgot to take 2025 RMD in that IRA which makes TT system not generating 2025 form 8606? Plesae let me know what you think.
Regarding the missed 2025 RMD, the corrective action was done in 2026 and form 5329 is properly generated in TT with a waiver statement.
Appreciate again.