Form 8606 Line 24 for IRA Basis not calculating pr... - Community

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Intuit

Form 8606 Line 24 for IRA Basis not calculating properly

TurboTax customers who've rolled over their 401(K) to a Roth IRA may be double taxed when they take a distribution in the same tax year, as the basis of the Roth IRA isn't calculating from the IRA worksheet line 7 to the form 8606 line 24.

 

Expected resolution date

We expect to have a program update for TurboTax to resolve this issue by 7-10-20

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