Was advised I cannot e file my return until an 8606T form is made available on February 15?
I received an RMD from my IRA account in December. Am I required to fill out an 8606T for the 2017 return? If so was the 8606 form modified?
Am somewhat confused as I thought no 8606 was required in years when you do not make a non-deductible IRA contribution?
Thanks for your help
The 8606 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
The 8606 is currently estimated for 2/15/18 but that is subject to change. The IRS just published the paper/PDF 2017 version of the 8606 on Feb 2 and still have not issued the 2017 8606 instructions.
The IRS still must issue the e-file specifications (schema) for the form so e-file providers can program to the IRS specifications, then the IRS must approve TurboTax's version to be sure what TurboTax transmits, the IRS can read, it usual takes 2-3 weeks after that for the e-file version of the final electronic form version to be approved.
I received the same message and unsure why because none of the reasons for the form listed apply to me. Please advise.
@benwesley - did you have a 1099-R or make a IRA contribution?
Go file on H&R Block. They’ve got the form uploaded and you can file right away!
Tax act also has this form up and ready to use. Only turbotax does not.
The 8606 is currently estimated for 2/15/18 but that is subject to change. The IRS just published the paper/PDF 2017 version of the 8606 on Feb 2 and only issued the 2017 8606 instructions on 2/7/18.
The next scheduled TurboTax update is on Feb 15.
The IRS only updated it's software on Feb 11 and says the 8606 will be available 2/15.
<a rel="nofollow" target="_blank" href="https://www.irs.gov/e-file-providers/list-of-available-free-file-fillable-forms">https://www.irs.gov/e-file-providers/list-of-available-free-file-fillable-forms</a>
the link above says that the 8606 isn't available for free file fillable forms until 2/22/2018.
Form 8606
I deleted the 8606-T form and TT still won't let me file. why is this holding up my ability to file when it doesn't apply to me and I still deleted the form?
Still says form will be available 2/15 on turbo tax and it is not. I'm DONE, I'm going to Tax act.
If this form is not available tomorrow, I'm switching back to H&R Block
If the IRS isn't processing the 8606 yet, it will not matter who yiu file with. The IRS currently gives a Feb 22 date for the 8606.
<a rel="nofollow" target="_blank" href="https://www.irs.gov/e-file-providers/list-of-available-free-file-fillable-forms">https://www.irs.gov/e-file-providers/list-of-available-free-file-fillable-forms</a>
The 8606 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
The 8606 is currently estimated for 2/15/18 but that is subject to change. The IRS just published the paper/PDF 2017 version of the 8606 on Feb 2 and still have not issued the 2017 8606 instructions.
The IRS still must issue the e-file specifications (schema) for the form so e-file providers can program to the IRS specifications, then the IRS must approve TurboTax's version to be sure what TurboTax transmits, the IRS can read, it usual takes 2-3 weeks after that for the e-file version of the final electronic form version to be approved.
This is a lie. Tax Act has this form up and running as does H&R Block. Only Turbo Tax is withholding it and making people wait to file.
What part is a "lie"? TT is taking longer because they take more time to check out their software. You shouldn't attribute to malice that which is adequately explained by incompetence.
The part where turbotax posts a message saying "it turns out the IRS is opening later then usual this year and some forms are not ready for processing. This is a nationwide delay for all returns like yours, no matter who is processing them" - Again, H&R block is processing this form as well as Tax Act, and at this point it is not the IRS' fault, it is Turbotax for not entering the form in a timely manner like their competitors.
Agreed. Just did my return on Taxact and used form 8606
The IRS just updated its web site to say that the 8606 will not be processed until Feb 22.
<a rel="nofollow" target="_blank" href="https://www.irs.gov/e-file-providers/list-of-available-free-file-fillable-forms">https://www.irs.gov/e-file-providers/list-of-available-free-file-fillable-forms</a>