Any idea when 8606 is really going to be available? Originally it was scheduled for 1/29. That slipped to 2/5 and now it has gone to 2/12. What is taking so long for this relatively uncomplicated form?
Per the IRS forms availability table for TurboTax individual (personal) tax products the availability date for Form 8606 has been updated to 02/05.
Please take another look at the table you referenced (https://care-cdn.prodsupportsite.a.intuit.com/forms-availability/turbotax_fed_online_individual.html... As of about 5:45 pm cst, on 1/31, it says 2/12/2020 not 2/5/2020. Again I'll ask, why is this form taking so long to release?
All I can say is be careful. I have a copy of H&RBlock also and there is a slight difference between H&RBlock and TurboTax in the calculation of the line 10 ratio of Form 8606. The IRS instructions for that line say to round the ratio to "at least three places." Block rounds to three, but TurboTax rounds to 5. Those two decimal places may not sound like much but depending on the size of your after-tax contributions, the value of your IRA, and the size of your distribution they can make a difference. They did for me. I owe less with TurboTax.
I have to agree. The IRS posted the form on 1/23. It seems like Intuit is kicking the can down the road on this one. A simple form ... probable only needed to change 2018 to 2019. What is the hold up???
Because e-fileing does not use paper forms - it transmits encrypted data in the exact format specified by the IRS/State or the IRS/State could not read it. The IRS/State first finalizes the paper form, then writes the e-file specifications and gives that to e-file providers to develop their software. Then the IRS/State must test with the e-file providers and approve the electronic forms before they can be released so that both ends are compatible. That process usually takes several weeks after the paper version has been released.
Based on our best information FORM 8606 will be available on 02/12/2020.
Select your situation below to locate your 2019 form or schedule.
From <Federal FORM availability>
I agree. "Intuit" clearly is not listening or simply does not care ! If another company like HRBlock can get it done in a timely manner, is says a lot about TurboTax and their complete lack of urgency for their clients.
The fact that the forms are available on the IRS website has nothing to do with any tax software program. The forms are available if you are going to download from the IRS to complete it on your own. However, e-filing is different. Once the form is finalized by the IRS, it has to be coded into the special language the software uses and has to be thoroughly tested for calculations and e-filing acceptability. IRS then has to approve it for e-file. It always takes a little longer for a form to become available for e-file in a software program. I hope this helps you understand the situation. At this point, the IRS expects to approve the form 8606 on TurboTax e-file as 02/12/2020. I truly understand your frustration and thank you for your patience.