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How to directly edit form 8606 in an amended return (1040-X)

On Form 8606, I entered the incorrect value of all my traditional IRAs.  This requires that I file an amended return (not just an amended Form 8606) since it impacts my tax obligation.  I amended my original return and it correctly generates Form 8606.  However, I also need to add a nondeductible contribution (line 1) which I failed to include on the original filing.  How do I tell TurboTax (desktop edition) that I would like to amend the amount in line 1, or how do I directly edit the Form 8606 that was generated?  I cannot figure out how to do either.

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Accepted Solutions

How to directly edit form 8606 in an amended return (1040-X)


@miamivicefanatic wrote:

The problem is that when amending the return, there is no opportunity to say that I would like to change the amount I previously entered for nondeductible contributions to traditional IRAs.  That question is not presented when I say that I wish to amend my 1099-R.  If there is some other place to enter that, I have not found it.  That's why I'm asking.


Just go to the IRA contribution section and revisit your prior entry.   Delete it and re-enter with the correct amount.

Enter IRA contributions here:
Federal Taxes,
Deductions & Credits,
I’ll choose what I work on (if that screen comes up),
Retirement & Investments,
Traditional & Roth IRA contribution.

OR  Use the "Tools" menu  (if online version under My Account) and then "Search Topics" for "ira contributions" which will take you to the same place.

If you qualify for a deduction then TurboTax will ask if you want to make it non-deductible. If you do then a 8606 form will be added with the non-deductible amount on line 1.

 

**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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4 Replies

How to directly edit form 8606 in an amended return (1040-X)

If you did not enter the IRA contribution to start with then do that first  and make the contribution non deductible  then  review the 1099-R section to make sure the basis is being transferred thru. 

How to directly edit form 8606 in an amended return (1040-X)

The problem is that when amending the return, there is no opportunity to say that I would like to change the amount I previously entered for nondeductible contributions to traditional IRAs.  That question is not presented when I say that I wish to amend my 1099-R.  If there is some other place to enter that, I have not found it.  That's why I'm asking.

How to directly edit form 8606 in an amended return (1040-X)


@miamivicefanatic wrote:

The problem is that when amending the return, there is no opportunity to say that I would like to change the amount I previously entered for nondeductible contributions to traditional IRAs.  That question is not presented when I say that I wish to amend my 1099-R.  If there is some other place to enter that, I have not found it.  That's why I'm asking.


Just go to the IRA contribution section and revisit your prior entry.   Delete it and re-enter with the correct amount.

Enter IRA contributions here:
Federal Taxes,
Deductions & Credits,
I’ll choose what I work on (if that screen comes up),
Retirement & Investments,
Traditional & Roth IRA contribution.

OR  Use the "Tools" menu  (if online version under My Account) and then "Search Topics" for "ira contributions" which will take you to the same place.

If you qualify for a deduction then TurboTax will ask if you want to make it non-deductible. If you do then a 8606 form will be added with the non-deductible amount on line 1.

 

**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.**

How to directly edit form 8606 in an amended return (1040-X)

Thank you so much.  I did not think to look under Deductions & Credits since it concerns a nondeductible contribution.  I was expecting the question to be under something like 8606 or 1099-R or retirement.  You saved me a lot of grief as I thought I would need to manually create a new Form 8606.

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