Form 8606 is a form for reporting nondeductible IRAs. One of the purposes of filing this form is to keep track on your IRA nondeductible contributions to traditional IRAs so that the taxability of your future IRA distribution will be correctly calculated based on your IRA basis ( which are the nondeductible contribution portions). In addition, you also use it to report other IRA-related transactions where the government needs to track the status of your money—whether it’s been taxed or untaxed.
As this form will not be available until 2/15/2018 per IRS, if this form does not apply to you, simply remove it from the program.
In TurboTax online program, please follow these steps:
1. Sign into your account, select Take me to my return
2. On your left, Select Tax Tools / drop down menu
3. Select Tools
4. Under Other helpful links, choose Delete a form
5. Select Delete next to Form 8606-T and Continue with My Return to proceed
I've tried to delete this form 8 times. Each time I get a message saying that the form has been deleted, but it hasn't. It's still there. How can I REALLY delete it? Or tell the software that I don't need the form?
I can't be sure what you had answered or entered that might have generated that form, but you should first try to go back through the two sections of TurboTax that are related to retirement and IRAs to see if the form is still generating:
Choose Deductions & Credits from the menu at the top and then Retirement & Investments and delete this section.
If that doesn't remove the form, go back to Retirement & Social Security under Wages & Income and review ALL of your questions in this section also.
If the form is still there after you have reviewed all of your answers, then there is something that is generating it and I suggest you contact customer service to get additional assistance. They will be able to log in with you and troubleshoot the issue. If you are using the Live Product, Choose "Live Tax Advice" in the upper Right side of your Screen, or choose Help