dmertz
Level 15

Retirement tax questions

balexh, this thread discusses a code 8 Form 1099-R for a return of contribution.  Is that what you have?  If not, you do not have the same issue and nothing said previously in this thread applies.

 

It sounds a more like you have a code 1 or code 7 Form 1099-R reporting a regular distribution from a traditional IRA.  If so and if you have basis in nondeductible traditional IRA contributions, yes, Form 8606 is required to determine the taxable amount of your distribution.  TurboTax prepares Form 8606 automatically; be sure to click the Continue button on the Your 1099-R Entries page and answer all of the questions that follow.