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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.

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1 Reply
AnnetteB6
Expert Alumni

Form 8606

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.  

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