Form 8606

bjf412 — Sat, 05 Feb 2022 15:38:36 GMT

Hi. Is Form 8606 for 2021 available in TurboTax yet? Thanks.

Re: Form 8606

macuser_22 — Sat, 05 Feb 2022 15:45:52 GMT

Yes, it has been available for a long time.

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
4) You have distribution from Roth IRA.

[For more information:
See IRS 8606 instructions
https://www.irs.gov/pub/irs-pdf/i8606.pdf
"Who must file" page 1.]

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

There are some circumstances when a 8606 must be filed for other reasons and might require filing a stand-alone 8606.

https://ttlc.intuit.com/questions/1899503-what-is-form-8606-nondeductible-iras-used-for

topic Form 8606 in Deductions & credits

Form 8606

Re: Form 8606