Has the IRS approved TurboTax's Form 8606 for 2022?

https://care-cdn.prodsupportsite.a.intuit.com/forms-availability/turbotax_fed_online_individual.html

Ther's no way for any of us to know that.

The TTX form 8606 is "Scheduled" to be ready on/after 26 January  (but no guarantees).

Don't bother checking TTX for it until 27 January, and only once a week on Friday thereafter.

The form 8606 is still not on turbotax.  

I am showing this form should be available.  Are you getting a specific error message?  Please advise what you are seeing here in the thread and someone will provide further assistance.  

@brucepug  

I'm using Turbo Tax Premier desktop CD. I've downloaded the update for 1/26/2023. When I go to preview the forms, Form 8606 is not there. There is no error message.

Did you report a Non-Deductible Contribution on your return?  If not, Form 8606 may not be generated.

If you indicate YES (whether you did or not) you can enter your 2021 balance and Form 8606 will be generated.

Click this link for more info on How to Trigger Form 8606. 

I reported a Non-Deductible Contribution on my return. Form 8606 not generated.

I entered 2021 basis amount. Form 8606 not generated.

Followed steps in link "How to trigger Form 8606". Form 8606 not generated.

Form 8606 is available in TurboTax.

For the latest updates on federal forms see Federal Individual Form Availability.

@cfmauney1

The list shows Form 8606 is available, but it still doesn't show up in my preview of forms. Any idea when it might be available?

Form 8606 is available for both print and e-file.  If you're using TurboTax Online to prepare your return, sign out of your account and clear your browser's cache and cookies, then sign back in.  

For the CD/Download software, please perform a manual update of your TurboTax software and try once again to access Form 8606.  Here are the manual update instructions:  Manually Update TurboTax for Windows Software (Basic, Deluxe, Premier, Home & Business)

@GoodToGo 

Form 8606 is still not in turbo tax!

This form is not always required to be filed.  However if you have nondeductible contributions that carry from year to year, I would file it every year to keep track of it.  And to keep it on point with the IRS. This form is a signature form and can be filed with the tax return or all by it self.

• Locate IRS Mailing Address 

You can reach the 8606 by following the instructions provided by our Tax Expert @marilynjoy and placed here for your convenience. You use the same search and land on the same page in TurboTax CD/Download or TurboTax Online. The same screens come up to enter any nondeductible contributions.

• How to Trigger Form 8606. 

Answer the questions based on your situation.  Form 8606 is not always required when there is only nondeductible contributions carried over from a prior year.  In the desktop version I had to add the form to the file. 

• Click on Forms (top right) > Click on Open Forms > Search for 8606 and add for yourself or your spouse.
• You may need to complete parts of the form but any nondeductible contributions will show up.

Who Must File

File Form 8606 if any of the following apply.

1. You made nondeductible contributions to a traditional IRA for 2022, including a repayment of a qualified disaster or reservist distribution.
2. You received distributions from a traditional, SEP, or SIMPLE IRA in 2022 and your basis in these IRAs is more than zero. For this purpose, a distribution doesn’t include a distribution that is rolled over (other than a repayment of a qualified disaster distribution (see 2022 Form 8915-F)), qualified charitable distribution, one-time distribution to fund an HSA, conversion, recharacterization, or return of certain contributions.
3. You or your spouse transferred all or part of their traditional, SEP, or SIMPLE IRA in 2022 to the other spouse under a divorce or separation agreement where the transfer resulted in a change in the basis of the IRA of either spouse.
4. You converted an amount from a traditional, SEP, or SIMPLE IRA to a Roth IRA in 2022.
5. You received distributions from a Roth IRA in 2022 (other than a rollover, recharacterization, or return of certain contributions—see the instructions for Part III, later).
6. You received a distribution from an inherited traditional, SEP, or SIMPLE IRA that has a basis, or you received a distribution from an inherited Roth IRA that wasn’t a qualified distribution. You may need to file more than one Form 8606. See IRA with basis under What if You Inherit an IRA? in Pub. 590-B for more information.
   • Form 8606 Instructions

• @GoodToGo

[Edited: 02/03/2023 | 1:00p PST]

Despite following ALL the previous suggestions, Form 8606 in still NOT being generated.

I'm using the Windows CD Version of Turbo Tax Deluxe 2022.

In 2022, I converted an amount from a SEP IRA to a Roth IRA.  I've made similar conversions using

Turbo Tax going back to 2015, all successful.

First, I ran the Manual Update as per DaraLO's instructions. This did not activate Form 8606.

Then I clicked on the link from MarilynG1, How to Trigger Form 8606 and followed the prompts.

On the screen Any Nondeductible Contributions to Your IRA?, I answered YES, I made and tracked nondeductible contributions to my IRA.

The next screen is Let's Find Your IRA Basis, which "grabbed" the IRA Basis from the 2021 Return. On the 2021 Turbo Tax, the next screen is Tell Us The Value Of Your Traditional IRA.  However, on the 2022 Turbo Tax, it skips that last question Tell Us The Value Of Your Traditional IRA and goes to the screen saying Roth IRA Contributions. The 2022 Turbo Tax is NOT offering the page Tell Us The Value Of Your Traditional IRA as it did on the 2021 Turbo Tax Deluxe.

This is where I am stuck.

Please advise.

Please be aware, that you will only need to enter the value of your IRA when you make a conversion or take a distribution from the IRA. The screen will appear in the follow-up questions when you enter your Form 1099-R for conversion or distribution and not in the contribution section.

To enter the 1099-R conversion: 

1. Click "Federal Taxes" on the top and select "Wages & Income"
2. Click "I'll choose what to work on"
3. Scroll down and click "Start" next to "IRA, 401(k), Pension Plan (1099-R)" 
4. Answer "Yes" to the question "Did You Have Any of These Types of Income?"
5. Click "I'll Type it Myself"
6. Choose "Form 1099-R, Withdrawal of Money from 401(k) Retirement Plans, Pensions, IRAs, etc."
7. Click "Continue" and enter the information from your 1099-R
8. Answer questions until you get to “What Did You Do With The Money” and choose “I moved it to another retirement account”
9. Then choose “I did a combination of rolling over, converting, or cashing out money.” and enter the amount next to "Amount converted to a Roth IRA account"
10. On the "Your 1099-R Entries" screen click "continue"
11. Answer "yes" to "Any nondeductible Contribution to your IRA?" if you had any nondeductible contributions in prior years.
12. Answer the questions about the basis from line 14 of your 2021 Form 8606 and the value of all traditional, SEP, and SIMPLE IRAs

 Please see Who Must File Form 8606 for additional information.

[Edited 2/5/2023 | 5:40am PST]

@bohica23

"Please be aware, that you will only need to enter the value of your IRA when you make a conversion or take a distribution from the IRA. The screen will appear in the follow-up questions when you enter your Form 1099-R for conversion or distribution."

In my original message, I did state that I made a Roth conversion in 2022, so I DO have to file Form 8606 just like I have had to do for all my previous Roth conversions.  I have also entered the conversion information into Form 1099-R, but the follow up questions DO NOT come up.  This is where the issue is!

The 2022 Turbo Tax Deluxe is not offering the page Tell Us The Value Of Your Traditional IRA and other follow up questions.

I just wanted to make you aware that it won't come up in the contribution section because you stated "on the 2022 Turbo Tax, it skips that last question Tell Us The Value Of Your Traditional IRA and goes to the screen saying Roth IRA Contributions" (indicating you were in the contribution section).

I cannot recreate your error I'm getting the Tell Us The Value Of Your Traditional IRA in the retirement section.

It would be helpful to have a TurboTax ".tax2022" file that is experiencing this issue. You can send us a “diagnostic” file that has your “numbers” but not your personal information. If you would like to do this, here are the instructions for TurboTax Download: 

1. On your menu bar at the very top, click "Online"
2. Select "Send Tax File to Agent"  
3. Click "Send"
4. The pop-up will have a token number
5. Reply to this thread with your Token number. This will allow us to open a copy of your return without seeing any personal information.  

We will then be able to see exactly what you are seeing and we can determine what exactly is going on in your return and provide you with a resolution.

@bohica23 

DanaB27,

Thanks for the replies and your efforts to resolve this issue.

I suspect the .tax2022 file may have gotten corrupted.  Ended up creating a new return, all the screens came up normally and was able to enter the necessary values.

Thanks again

Downloaded TurboTax on 2/18/23.  There is no Form 8606.  IRA basis displays for taxpayer during data entry, but not for spouse.  No form 8606 for either.

Form 8606 is available. You say "IRA basis displays for taxpayer during data entry, but not for spouse." Does your spouse have an IRA basis?

You can use Forms mode to view and/or add basis:

1. Tap Forms in the top right corner
2. Tap Forms in MY Return at the top of the left column
3. Under Search or Browse the list of available forms type 8606 in the search box
4. Highlight Form 8606-S Nondeductible IRAs, then top Open Form
5. Tap QuickZoom on Traditional IRA Value Smart Worksheet between lines 5 and 6 and add your wife's basis on Part III line 12.
6. Tap Step-by-Step in the top corner where Forms used to be to return to the interview mode

Have an IRA with basis kept track on 8606 need to use 8606 to allocate basis on my 1099R income.

Form 8606 is available, see the steps below on how to enter the information:

1. Sign in to your TurboTax account
2. Open your return if it isn't already open
3. Inside TurboTax, search for this exact phrase: IRA Contribution Information
4. Select the Jump to link in the search results
5. Proceed through the IRA section, answering questions as you go

You can use Form Mode to view or add basis.

Also, review additional information in the link below:

Form 8606

Has form 8606 been added to on-line software?

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@TAX0823_48 wrote:

Has form 8606 been added to on-line software?

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Form 8606 has been available in the online and desktop editions since January 2023.