I contributed 6,000 for myself and 6,000 for my wife to traditional IRA and then converted to Roth. Why is it showing a different amount ($4560) on form 8606?
Do you have a TurboTax Online account?
We'll help you get started or pick up where you left off.
I contributed 6,000 for myself and 6,000 for my wife to traditional IRA and then converted to Roth. Why is it showing a different amount ($4560) on form 8606?
My 8606 shows up correctly (6000 contributed, 6000 converted, 0 taxable). My wife's 8606 shows different amounts even though we did the same thing. Ends up with $1440 taxable.
I contributed 6,000 for myself and 6,000 for my wife to traditional IRA and then converted to Roth. Why is it showing a different amount ($4560) on form 8606?
In the contribution section did you indicate for both of you that you wanted all of the contribution to be non deductible ? Because some of her contribution was deductible.
You have clicked a link to a site outside of the TurboTax Community. By clicking "Continue", you will leave the Community and be taken to that site instead.