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8606 Box 1 not populated (Backdoor Roth IRA)

In January 2023 I made $6500 in non deductible contributions to a traditional IRA then immediately did a backdoor Roth conversion.  I’ve received a 1099-R from Fidelity and have been following the instructions here for TurboTax Online:

 

https://ttlc.intuit.com/turbotax-support/en-us/help-article/retirement-benefits/enter-backdoor-roth-...

 

The problem is that no matter what I do I cannot get the software to populate Box 1 of form 8606 with the $6500 non deductible contributions and the $6500 is being treated at taxable on box 18 of form 8606 and box 4b of my 1040.  If I follow the instructions it says to:

 

Start or Revisit next to “Traditional and Roth IRA Contributions”

 

Which does not exist.  The only option exists is:

 

IRA, 401(k), Pension Plan Withdrawals (1099-R)

 

After I’ve entered my 1099-R on this page I get to the question:

 

Any Nondeductible Contributions to IRA?

 

Which I’ve selected Yes.  


Then I enter a total basis on $0 for my IRA basis and $0 for the value on December 31, 2023.

When I look at my completed 8606 form only box 16 and 18 are filled out with $6500 which causes the entire $6500 to be treated as taxable.  Since the online instructions seem to be incorrect or incomplete how do I get TurboTax to populate box 1 of form 8606 with the correct amount $6500 of non deductible contributions?

 

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1 Reply
dmertz
Level 15

8606 Box 1 not populated (Backdoor Roth IRA)

If there is nothing on line 1 of Form 8606, either:

  1. You failed to enter the traditional IRA contribution under Deductions & Credits,
  2. The contribution is appearing on Schedule 1 line 20 as a deductible traditional IRA contribution, or
  3. When entering the traditional IRA contribution under Deductions & Credits you mistakenly indicated that you "switched" (recharacterized) your traditional IRA contribution to be a Roth IRA contribution instead.  You did not do (or at least should not have done) a recharacterization.
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