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Level 1
posted Jul 8, 2020 4:59:58 PM

8606 non deductible IRA

0 4 444
1 Best answer
Level 15
Jul 11, 2020 4:33:38 PM

You don't normally enter a 8606 itself. It is automatically created when:

1) You make a new non-deductible Traditional IRA contribution.
2) You take a distribution from a IRA that has a after-tax "basis".
3) You make a conversion of a retirement account to a Roth IRA

If none of those occurred, then the last filed 8606 remains in effect

There are some circumstances when a 8606 must be files for other reasons and might require filing a stand-alone 8606.

https://ttlc.intuit.com/questions/1899503-what-is-form-8606-nondeductible-iras-used-for

4 Replies
Level 15
Jul 8, 2020 5:25:04 PM

Do you have a question about it?

Level 1
Jul 11, 2020 4:28:01 PM

I have always received this form in my Federal tax return.  But not this year.  How come?

Level 15
Jul 11, 2020 4:33:38 PM

You don't normally enter a 8606 itself. It is automatically created when:

1) You make a new non-deductible Traditional IRA contribution.
2) You take a distribution from a IRA that has a after-tax "basis".
3) You make a conversion of a retirement account to a Roth IRA

If none of those occurred, then the last filed 8606 remains in effect

There are some circumstances when a 8606 must be files for other reasons and might require filing a stand-alone 8606.

https://ttlc.intuit.com/questions/1899503-what-is-form-8606-nondeductible-iras-used-for

Level 1
Jul 13, 2020 8:31:56 AM

 

Thank you for your answer.