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New Member
posted Aug 5, 2020 1:39:35 PM

How do I file a 8606? When following the instructions on Turbotax, it says to search for "8606, nondeductible ira contributions" and click on "Jump to" but none avail?

Need this to file my 2019 taxes -- and the instructions in Turbotax aren't working -- pls help!

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3 Replies
Level 15
Aug 5, 2020 2:46:20 PM

Why do you need a 8606?      You cannot prepare a 8606 by itself since it comes from other forms.

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 15
Aug 5, 2020 5:21:00 PM

@mvhenninger 

I assume you're using Online TurboTax.  The jump method of navigation should work when done correctly.   Are you doing it like this image?   Do not use quotes.   Ignore any dropdown suggestions while entering.  After entering, click the adjacent magnifying glass icon as shown in the image.

 

The jump link should take you to the start of the interview for Traditional and Roth IRAs.  There are also other ways to get there.   If you've already gone through the IRA interview section, it may have created a Form 8606 for you in the background, if needed.

 

However, if you have one of the special situations that require a standalone Form 8606 as macuser_22 mentioned above, then the FAQ he provided above tells you about those circumstances and what to do as far as manually preparing the 8606 to file with your return.

.

Level 15
Aug 5, 2020 5:53:49 PM


@mesquitebean wrote:

@mvhenninger 

I assume you're using Online TurboTax.  The jump method of navigation should work when done correctly.  

 

Actually TurboTax is very misleading.    The 8606 "jump to" does not take you to a 8606 for at all - it takes you to the IRA contribution interview that *might* generate a 8606 if you are reporting a non-deductible Traditional IRA contribution, but if you are reporting a IRA distribution or a Roth conversion that requires a 8606 then that is of no use whatsoever - you must know to go to the 1099-R interview for that.

 

If you need a 8606 for another reason, such as an inherited IRA with a basis, then you must manually prepare the form and attach it to a mailed tax return.