Turbotax does not generate 8606 for qualified contribution

[heidi192]

I did a backdoor contribution (contributed to IRA, then convert to roth IRA) in 2024. Filled out all the information correctly, Turbotax accurately characterized my contribution as "nondeductible" and "$0 taxable", but it didnt generate form 8606 automatically. Turbotax said this is a known issue and they're working on it.

Do I need to file the form separately manually or should I wait until Turbotax resolve this issue?

[DanaB27]

There was an issue with reporting the prior year basis, which has been fixed, but if you entered everything correctly you should have Form 8606 included. Please review the steps below.

To enter the nondeductible contribution to the traditional IRA for 2024:

1. Login to your TurboTax Account 
2. Click on "Search" on the top right and type “IRA contributions” 
3. Click on “Jump to IRA contributions"
4. Select “traditional IRA”
5. Answer “No” to “Is This a Repayment of a Retirement Distribution?”
6. Enter the amount you contributed
7. Answer “No” to the recharacterized question on the “Did You Change Your Mind?” screen
8. Answer the next questions until you get to “Any Nondeductible Contributions to Your IRA?” and select “Yes” if you had a nondeductible contribution before this tax year.
9. Enter your basis in the Traditional IRA from your 2023 Form 8606 line 14 (if you had a basis in the prior year)
10. On the “Choose Not to Deduct IRA Contributions” screen choose “Yes, make part of my IRA contribution nondeductible” and enter the amount (if you have a retirement plan at work and are over the income limit it will be nondeductible automatically and you only get a warning and then a screen saying $0 is deductible).

To enter the Form 1099-R conversion: 

1. Click on "Search" on the top right and type “1099-R”  
2. Click on “Jump to 1099-R”
3. Click "Continue" and enter the information from your 1099-R
4. Answer questions until you get to “Tell us if you moved the money through a rollover or conversion” and choose “I converted some or all of it to a Roth IRA”
5. On the "Review your 1099-R info" screen click "Continue"
6. Answer "Yes" to "Any nondeductible Contributions to your IRA?" if you had any nondeductible contributions in prior years.
7. Answer the questions about the basis from line 14 of your 2023 Form 8606 and the value of all traditional, SEP, and SIMPLE IRAs

To preview your complete return please see Can I print a copy of my return in TurboTax Online before I file it?

[heidi192]

Thank you for the response, DanaB27! I followed your instruction until step 8. I didnt get "“Any Nondeductible Contributions to Your IRA?” question, it directly told me that I'm not qualified for deductible contributions, which is fine. I didnt have contribution in previous year, so I put prior year basis as $0. 

When going to review using "tax tools", it only shows me 1040 for fed tax and state tax form, no form 8606 was generated. Am I supposed to see the 8606 form here or can I only see it after paying and using "print" function?

[DanaB27]

You can only see the Form 8606 when you select the print function. The "Preview my 1040" option only shows Form 1040 and doesn't show all forms included with the return.

Please see How do I preview my TurboTax Online return before filing? for additional information.