TurboTax does not retain customers' private tax information, for your protection. The program is designed to facilitate your preparing Form 8606 and other necessary tax forms and for you to fill out and electronically file or print and mail your return.
Please see this TurboTax help article and this tips article for detailed information about Form 8606 and how TurboTax can prepare it.
We'll automatically generate and fill out Form 8606 (Nondeductible IRAs) if you reported any of these on your tax return:
- Nondeductible contributions made to a traditional IRA
- Distributions from a traditional, SEP, or SIMPLE IRA that had nondeductible contributions (not including 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
- Distributions from a Roth IRA (other than rollovers, recharacterizations, or a return of certain contributions)
However, you'll have to download and print Form 8606, manually fill it out (instructions), and print and file your return, if any of these three situations apply to you:
- You received a distribution from an inherited traditional IRA that had nondeductible contributions.
- You transferred an inherited plan account to a Roth IRA.
- You received a distribution from an inherited Roth IRA that was not a qualified distribution.
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