Why sign in to the Community?

  • Submit a question
  • Check your notifications
Sign in to the Community or Sign in to TurboTax and start working on your taxes
Level 1
posted Feb 26, 2024 6:57:56 AM

Form 8606

Turbotax is incorrectly filling out form 8606.  I Answered the prompt that I made non-deductible IRA contributions in 2023, but it is not adding that to line 1 of the form.  As a result my basis is not correct.

0 1 414
1 Replies
Employee Tax Expert
Feb 26, 2024 7:25:04 AM

Double check your entries in the section Deductions and Credits > Retirement and Investments > Traditional and Roth IRA Contributions.  As you go through this section, first indicate that you have a Traditional IRA.  

 

Then, enter the amount that you contributed for 2023.  There may be some follow-up questions related to whether you want to deduct the contribution or keep it non-deductible, as well as questions about previous year non-deductible contributions.  If you see a message that you cannot make a deductible contribution, then the contribution you entered is automatically considered to be non-deductible and will be reported on line 1 of Form 8606.