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maples00
New Member

What do i need to do to file a form 8660 for 2017 ?

 
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3 Replies
HelenC12
Expert Alumni

What do i need to do to file a form 8660 for 2017 ?

There is no IRS form 8660. Did you mean IRS Form 8606: Nondeductible IRAs?

 

You may need to amend your 2017 income tax return to generate form 8606. Please read the information below.

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 (excluding 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, if any of these 3 situations apply to you:

  1. You received a distribution from an inherited traditional IRA that had nondeductible contributions,
  2. You transferred an inherited plan account to a Roth IRA,
  3. You received a distribution from an inherited Roth IRA that was not a qualified distribution,

then you'll have to download and print Form 8606, manually fill it out (instructions), and print and file your return, as you won't be able to e-file.

 

To trigger the 8606 in TurboTax:

 

For the 4 situations listed at the top of this article, you can trigger Form 8606 with these instructions:

  1. Open your return if it isn't already open.
  2. Inside TurboTax, search for this exact phrase, including the comma: 8606, nondeductible ira contributions
  3. Select the Jump to link in the search results.
  4. Proceed through the IRA section, answering questions as you go.
  5. When you reach the screen Any nondeductible contributions to [taxpayer's] IRA? answer Yes, then continue. We'll generate and fill out the 8606 behind the scenes.

Tip: On joint returns, 8606-T stands for "taxpayer" (first person listed on the return) and 8606-S denotes "spouse."

 

Related Information:

Source:TurboTax FAQ

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What do i need to do to file a form 8660 for 2017 ?

It doesn't work for me.  I cannot get an access to the screen to enter my traditional IRA balance by Dec. 31 2019.

 

I saw a message that you have a bug which will be fixed in July. Is this true?  

dmertz
Level 15

What do i need to do to file a form 8660 for 2017 ?

There has never been any bug that prevents you from being able to enter your year-end balance in traditional IRAs.  Click the continue button on the Your 1099-R Entries page to reach the question that asks for this.  (However, if you have entered no Forms 1099-R reporting a distribution or Roth conversion from a traditional IRA or have no basis in nondeductible traditional IRA contributions, TurboTax has no need to know your year-end balance in traditional IRAs for Form 8606.)

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