3684622
turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
Announcements
Close icon
Do you have a TurboTax Online account?

We'll help you get started or pick up where you left off.

Form 8606 Not getting generated

I have rolled over from my 401K which had both pre and post tax. I opened an IRA account and rolled over the amount in 2024 Feb. I have 1099-R from my previous employer showing post tax money into it. However, Turbo tax is not generating Form 8606. What is the way turbo tax to generate Form 8606? Thanks.

x
Do you have an Intuit account?

Do you have an Intuit account?

You'll need to sign in or create an account to connect with an expert.

1 Reply
dmertz
Level 15

Form 8606 Not getting generated

Form 8606 is only to be generated if you made a nondeductible traditional IRA contribution, made a distribution from a traditional IRA and you had basis in nondeductible traditional IRA contributions, did a Roth conversion, or made a nonqualified distribution from a Roth IRA.  A rollover to an IRA from a 401(k) is none of these even if the rollover included after-tax funds.  The rollover of after-tax funds to a traditional IRA does add to your basis in nondeductible traditional IRA contributions, but it is not reportable until you are required to file Form 8606.

 

When you do make a nondeductible traditional IRA contribution or a distribution from your traditional IRAs, requiring that your tax return include Form 8606, you'll report the after-tax basis that your traditional IRAs acquired from the 401(k) as an adjustment on Form 8606 line 2.  This adjustment will require you to provide explanation.  Using TurboTax, you would indicate that you have basis in nondeductible traditional IRA contributions, then click the EasyGuide button.  TurboTax will then provide an option to enter basis rolled over from a 401(k).

Unlock tailored help options in your account.

message box icon

Get more help

Ask questions and learn more about your taxes and finances.

Post your Question