Completed IRA withdrawal work sheet, but form 8606 doesn't calculate portion that isn't taxable from my carry-forward balance.

[macuser_22]

What do you mean "worksheet"?

[hjheinkele912]

TT has IRA worksheet that should automatically transfer to Form 8606 to calculate carry forward portion of prior taxed income open in IRA accts. to determine 2017 portion that is allowed to be deducted from required withdrawal for 2017.

[macuser_22]

If you are doing that in the forms mode, be aware that any direct form enter outside of the interview will void the TurboTax accuracy guarantee.   The forms mode it a useful tool for checking entries and trouble-shooting, but direct form entry required that *you* know what forms but be tied together, what forms affect other forms, and what fields need to be entered.

 Entering data in the forms mode is much like filling out paper forms - you need to know what you are doing.  That is why TurboTax has a step-by-step interview that fills out the proper forms and ties related forms together based on your answer to the questions.

If the interview questions for a Traditional IRA with non-deductible basis are answered correctly, then the 8606 form lines 6-15 will correctly calculate the taxable amount make the appropriate entries on the worksheet and 8606 form.

[hjheinkele912]

All information was entered, however while I can manually arrive at an answer by overriding Form 8606, TT isn't doing it.

[hjheinkele912]

Thanks, I'll give it a try.

[macuser_22]

Try deleting the 1099-R and re-enter.   A Traditional IRA 1099-R must have the IRA/SEP/SIMPLE box next to box 7 checked of those questions will not come up.

[hjheinkele912]

Thanks, I'll try doing what you suggest.

[macuser_22 · Accepted solution]

Enter a 1099-R here: Answer the follow up questions after the summary screen to enter the non-deducitble contributions (basis) and total 2017 year end value.

Federal Taxes,
Wages & Income
(I'll choose what I work on - if that screen comes up)
Retirement Plans & Social Security,
IRA, 401(k), Pension Plan Withdrawals (1099-R).

OR  Use the "Tools" menu (if online version left side) and then "Search Topics" for "1099-R" which will take you to the same place.

Be sure to choose which spouse the 1099-R is for if this is a joint tax return.
Be sure to pick the correct 1099-R type: Standard 1099-R, CSA-1099-R, CSF-1099-R, RRB-1099-R.

[NOTE: When you get to the "Your 1099-R Entries" screen where you can add another 1099-R, use "continue" to keep going as there are additional interview questions after that screen in most cases. You can always return as shown above.]