Form 8606 wasn't filed

[PCD21]

I just realized that I should have filed Forms 8606 for my wife and I with our 2024 tax return.  We distributed money from our traditional IRAs for direct deposit to our Roth accounts.  We only need to fill out Part II of the form because we have never made any nondeductible contributions to our traditional IRAs nor have we ever taken any distributions from a Roth account.

I reopened my 2024 TT file but I cannot figure out how to get TT to prepare the 8606.  I can obviously fill out a stand-alone form and use it to file an amended tax return but I will have the same issue in 2025 and the future so I need to learn how to do this.  Any help would be appreciated.

Also, any suggestions on how to file a 2024 return when the only change is to add a missing form which does not affect our tax liability?  Anything tricky about it?

[baldietax]

did you get a 1099-R for the Roth conversion?  you would input that under Wages & Income / Retirement Plans section.  Be sure to answer the interview questions after the 1099-R to specify that the money moved into a Roth.  See following tho this is for backdoor Roth so it includes extra steps for the nondeductible contribution but the 1099-R steps should be similar https://ttlc.intuit.com/turbotax-support/en-us/help-article/retirement-benefits/enter-backdoor-roth-...

I think when amending a return you need to save your tax return file under a separate name before starting the process.  See https://ttlc.intuit.com/turbotax-support/en-us/help-article/tax-return/amend-federal-tax-return-curr...

Not sure your last question, don't you have a tax impact from this conversion?  For 8606 if you just need to file the form because of an update to the basis say but no tax impact you can send in the 8606 rather than amend your return - see notes at the end of the backdoor Roth conversion article above.  Not sure for other forms how that is handled.

[PCD21]

Thank you.  I will give that a try. 

Regarding my last question, our RMDs and the rollover to Roth distributions were included on a single 1099 from Schwab; so the rollover was picked up in taxable income.  So we just need to file the 8606 which I believe I can do by just filing it with a 1040-X.

[fanfare]

if you do not have any non-deductible contributions (no basis), then your entire conversion is taxable.

You don't have to file Form 8606. There is nothing to do.

@PCD21 

[PCD21]

Thanks for your response.  The reason I understand I needed to file the 8606 is because of the instructions for Part II.  Am I reading this incorrectly?

[dmertz]

All Roth conversions are required to be reported on Form 8606 Part II whether or not any traditional IRA basis is involved.