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Turbo Tax is generating form 8606, but I think this is incorrect. I have a traditional IRA and a Roth IRA. The entire contribution to my traditional IRA was deductible.
In 2017, I received distributions from both my Traditional IRA and my Roth IRA (because I returned to school full-time and needed the money).
I didn't make any contributions towards my IRAs in 2017.
I know that all of the money in my traditional IRA is taxable because I didn't pay taxes on any of it. But, 3/4 of the money in my Roth IRA is from after-tax dollars (the other 1/4 is the profit).
Why is Turbo Tax generating Form 8606?
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‎June 5, 2019
4:38 PM