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Level 1
posted Jan 19, 2023 8:02:51 PM

Form 8606: Non-Deductible IRA and Roth Conversions - 2022

Hi,

 

Is there a bug in Turbo Tax for 2023? When I fill out my info for my 2022 non-deductible IRA contribution (line 1), cost basis from 2021 (line 2), and current value of all current IRAs as of 12/31/22 (line 6), the entire 1st page of 8606 is blank and the 2nd page just contains my Roth conversion. The 2nd page is incorrect because it didn't pick up the info from Part 1 on the first page.

 

Thanks!

0 1 345
1 Best answer
Level 15
Jan 20, 2023 5:59:15 AM

This is the intended behavior.  Because you made nondeductible traditional IRA contributions and Roth conversions in the same year, TurboTax uses Worksheet 1-1 from IRS Pub 590-B to calculate the taxable and nontaxable amounts instead of doing this portion of the calculation directly on Form 8606.  This is denoted by asterisks on lines 13 and 15 of Form 8606.

1 Replies
Level 15
Jan 20, 2023 5:59:15 AM

This is the intended behavior.  Because you made nondeductible traditional IRA contributions and Roth conversions in the same year, TurboTax uses Worksheet 1-1 from IRS Pub 590-B to calculate the taxable and nontaxable amounts instead of doing this portion of the calculation directly on Form 8606.  This is denoted by asterisks on lines 13 and 15 of Form 8606.