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Form 8606 - how to get line 1 filled on Turbo Tax?
I funding a Roth IRA in 2016 using the backdoor method of contributing to a traditional IRA than converting the entire amount to the Roth. I've never deducted anything from the Traditional and the balance is $0 a year end 2016..
How can I use the software to trigger line 1 of Form 8606? Turbotax just asks me the Basis (which should be $0) and the value at year end 2016 (also $0). Without line 1 entered as $5,500 it thinks the distribution of the same value is fully taxable.
How can I use the software to trigger line 1 of Form 8606? Turbotax just asks me the Basis (which should be $0) and the value at year end 2016 (also $0). Without line 1 entered as $5,500 it thinks the distribution of the same value is fully taxable.
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‎June 5, 2019
10:58 PM