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gashley01
Returning Member

Turbo tax is not importing 2019 information for Form 8606 for T or S

That's about it!
7 Replies
macuser_22
Level 15

Turbo tax is not importing 2019 information for Form 8606 for T or S

What was entered that requires a new 8606 form?

 

You don't normally enter a 8606 itself. It 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

If none of those occurred, then the last filed 8606 remains in effect

**Disclaimer: This post is for discussion purposes only and is NOT tax advice. The author takes no responsibility for the accuracy of any information in this post.**
gashley01
Returning Member

Turbo tax is not importing 2019 information for Form 8606 for T or S

I took a distribution and my wife did a Roth conversion

gashley01
Returning Member

Turbo tax is not importing 2019 information for Form 8606 for T or S

I took a distribution from my basis tracking IRA and my wife made a 

Roth conversion form her taxable IRA.  The info does not appear on Form 8606; 

it's blank.

 

GHA

gashley01
Returning Member

Turbo tax is not importing 2019 information for Form 8606 for T or S

Both #'s 2 and 3 happened in 2020, but no info on 8606 for me 

or my wife.

macuser_22
Level 15

Turbo tax is not importing 2019 information for Form 8606 for T or S

If you had a 2019 non-deductible contribution  then you should have a 2019 8606 line 14 to enter as shown below.

 

Enter a 1099-R here:

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.]

You will be asked of you had and tracked non-deductible contributions - say yes. The enter the amount from the last filed 8606 form line 14 if it did not transfer. Then enter the total value of any Traditional, SEP and SIMPLE IRA accounts that existed on December 31, 2020.

That will produce a new 8606 form with the taxable amount calculated on lines 6-15 and the remaining carry-forward basis on line 14.

NOTE: If there is an * next to line 15 then 6-14 will be blank and the calculations will be on the "Taxable IRA Distributions worksheet instead.

**Disclaimer: This post is for discussion purposes only and is NOT tax advice. The author takes no responsibility for the accuracy of any information in this post.**
gashley01
Returning Member

Turbo tax is not importing 2019 information for Form 8606 for T or S

This is not my 1st year for 8606.  I have filed it in prior years.  I have gone thru the interview 3 times!

macuser_22
Level 15

Turbo tax is not importing 2019 information for Form 8606 for T or S


@gashley01 wrote:

This is not my 1st year for 8606.  I have filed it in prior years.  I have gone thru the interview 3 times!


If it did not transfer then manually enter the last filed 8606 box 14 amount when asked for.

 

Be sure the IRA/SEP/SIMPLE box is checked on your 1099-R.

 

Screen Shot 2021-04-16 at 8.59.43 AM.jpgScreen Shot 2021-04-16 at 9.00.00 AM.jpg

 

 

 

 

**Disclaimer: This post is for discussion purposes only and is NOT tax advice. The author takes no responsibility for the accuracy of any information in this post.**
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