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Have not been able to complete Form 8606 to deduct part of IRA distribution , How does one do this?

 
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2 Replies

Have not been able to complete Form 8606 to deduct part of IRA distribution , How does one do this?

Usually, Form 8606 (Nondeductible IRAs) is automatically generated if

  • Nondeductible contributions made to a traditional IRA;
  • Distributions from a traditional, SEP or SIMPLE IRA that had nondeductible contributions (excluding rollovers, conversions, recharacterizations, qualified charitable distributions, one-time distribution to fund an HSA, or return of certain contributions);
  • Conversions from a traditional, SEP, or SIMPLE IRA to a Roth IRA; or
  • Distributions from a Roth IRA (other than rollovers, recharacterizations, or a return of certain contributions).

On joint returns, 8606-T and 8606-S denotes that the 8606 belongs to the taxpayer (first person listed on the return) and spouse, respectively.

https://ttlc.intuit.com/replies/3300280

Have not been able to complete Form 8606 to deduct part of IRA distribution , How does one do this?

TurboTax released a Mac and Windows desktop update on Feb 15 that has the final e-file-able 8606 form

[However, the "Relief for hurricane distributions" from retirement plans is not included in this update. Requires related form 8915A/B that has a 3/8/18 target date.]

That is the date that the IRS is giving. The official 8915 on the IRS website is the 2009 version.

The IRS has not even released the paper/pdf for the new 2017 8915A and 8915B forms yet and the electronic schema specification are usually released by the IRS about 2 weeks after the pdf version. E-file providers must comply with the IRS schema rules to e-file.

**Disclaimer: This post is for discussion purposes only and is NOT tax advice. The author takes no responsibility for the accuracy of any information in this post.**

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