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Proteus7
New Member

No way to enter form 8606 information for non-deductible contributions

I have inherited pre-1987 IRAs with non-deductible contributions that have tracked basis in form 8606 from previous years, being entered into Turbotax desktop for the first time. There does not appear to be a way to manually enter information into form 8606, as the fields needed are blued out, startin with Line 4/5. Line 4 takes me to the Traditional IRA Smart Basis worksheet, I enter the information there, and in the "traditional IRA year-end value detail". It lets me fill out Part 1 Line 1,2,3. Eventually, it lets me select the 1099-R in question. However the taxable amount, Box 2a, is what I need to use form 8606 to calculate! If I scroll down on the 1099-R, I see the "Traditional IRA Basis and Value Smart worksheett"..but that then takes me back to the "IRA Information worksheet". There never seems to be a way to enter line 4 (value 0) 6,7, and 8 which are needed to calculate the rest.


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2 Replies
dmertz
Level 15

No way to enter form 8606 information for non-deductible contributions

TurboTax does not support preparing Forms 8606 for distributions from inherited traditional IRAs.  You must prepare the form outside of TurboTax and then, when asked, enter the resulting taxable amount.  To allow TurboTax to present this question, make sure that you have answered Yes when asking if the distribution was from an inherited IRA.

 

Make sure not to mix any information about the inherited IRA with information about your own IRAs.

No way to enter form 8606 information for non-deductible contributions

For an inherited IRA with basis, the names on 8606 should be "<owner> and <your name> BENE" or Beneficiary if it fits, and your SSN.

 

TurboTax won't prepare such a form. You can get the form in fillable PDF format on the IRS website.

After e-Filing you can mail it attached to Form 1040-X .

Explanation: "form not included with e-File due to software issues"

 

Note: when you are not changing any dollar amounts on your amending 1040-X, you can leave all the lines 1-23 EMPTY.

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Done this way, you sign 1040-X, not 8606.
Do not include your old 1040 nor your revised 1040 because they are identical.

 

@Proteus7 

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