topic Re: Why doesn't form 8606 generate? in Retirement tax questions

Why doesn't form 8606 generate?

skookum1 — Sun, 16 Feb 2020 15:49:48 GMT

Re: Why doesn't form 8606 generate?

LinaJ2020 — Sun, 16 Feb 2020 16:40:07 GMT

Per our updates, this form is available to use. So, let's check if you have entered the information through the correct path:

Open your return if it isn't already open.

Inside TurboTax, search for this exact phrase, including the comma: 8606, nondeductible ira contributions

Select the Jump to link in the search results.

Proceed through the IRA section, answering questions as you go.

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.

For more information about Form 8606, click here: Nondeductible IRA contributions

Please write back with more information if it doesn't work.

Re: Why doesn't form 8606 generate?

dmertz — Sun, 16 Feb 2020 16:48:19 GMT

Why do you think it should be present in your tax return?

Re: Why doesn't form 8606 generate?

macuser_22 — Sun, 16 Feb 2020 16:50:33 GMT

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

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