Form 8606 (backdoor Roth) - numbers not calulcating

[mytaxprofile70]

Hi,

I entered my 1099-R and answered the questions needed for the Roth conversion, however my 8606 is not filling correctly.   Although, it's not giving me any errors.   

Line 5 should say:  $7,000  based on the easy formula of subtracting line 4 from line 3.

Any ideas?

Thank you.

[GeorgeM777 · Accepted solution]

You are correct in that line 5 should reflect an amount of $7,000.  On the page which inquired about whether you had tracked non-deductible contributions, did you select "no."  Even if you know that your traditional IRA contribution was non-deductible, select "no" anyway.  Additionally, check box 7 on your 1099-R.  Box 7 should reflect code 2.

Before checking Form 8606, did you answer all of the questions in this section?  For example, there is a question that relates to COVID-19 withdrawals and another question that relates to disaster distributions.  You need to answer all of the questions in this section.  

Lastly, review your IRA Information Worksheet.  Does the ROTH IRA reflect the correct basis?

@mytaxprofile70 

[mytaxprofile70]

The worksheet was wrong, even though I "think" I answered the questions correctly.   I compared it to my past returns and made the adjustments.  Now it's working.  Thank you.