Form 8606 Part 3 Bug

Forum|Forum|4 years ago
February 4, 2022
1 reply
5 views

I contributed 100% after tax dollars to my Roth IRA and I took an early distribution last year. Turbo Tax won't trigger form 8606 part 3 so I can correct the basis and not pay taxes on the whole distribution. How can I trigger the form?

TurboTax Premier Online

Best answer by DanaB27

Please follow these steps to get to the follow-up question in the retirement section to enter your Roth contributions:

Login to your TurboTax Account
Click on "Search" on the top and type “1099-R”
Click on “Jump to 1099-R” and enter all your 1099-Rs
Click "Continue" on the "Review your 1099-R info" screen
Answer all the questions and make sure you enter the net contributions prior to 2021 on the "Enter Prior Year Roth IRA Contributions" screen
Answer the remaining question.

You can verify your entry by looking at Form 1040 line 4:

Click on "Tax Tools" in the left menu

Click "Tools"

Click "View Tax Summary" in the Tool Center window

Click on "Preview my 1040" on the left

DanaB27Answer

Level 15

Please follow these steps to get to the follow-up question in the retirement section to enter your Roth contributions:

Login to your TurboTax Account
Click on "Search" on the top and type “1099-R”
Click on “Jump to 1099-R” and enter all your 1099-Rs
Click "Continue" on the "Review your 1099-R info" screen
Answer all the questions and make sure you enter the net contributions prior to 2021 on the "Enter Prior Year Roth IRA Contributions" screen
Answer the remaining question.