Only one 8606 generated on our joint 2020 Return

Forum|Forum|5 years ago
February 9, 2021
2 replies
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. We took our 2020 RMD and then later returned all of it(including taxes). Working on our 2020 return we entered our 1099-Rs and followed the questions to show we rolled it over. Our 2019 return had an 8606 for both my self and my wife, but the 2020 return has only generated a 8606 for my wife. What do I need to do?

macuser_22

Alumni - Champ

There is no such thing as *our* RMD. IRA's are individual, never joint. If you each have a 1099-R then you probably did not select which spouse it was for. Edit them to change that.

**Disclaimer: This post is for discussion purposes only and is NOT tax advice. The author takes no responsibility for the accuracy of any information in this post.**

dlt99Author

Level 2

Thank you for your response. An unfortunate choice of words "our rmd" . We each received a 1099-R and we did specified that one belonged to me and the other to my wife.

macuser_22

Alumni - Champ

We had distributions and reported them under 1099 part of TurboTax. We were eligible under CARES act to rollover part of these distributions back which we did. We still had leftover distributions. In questions portion of step by step reported correct amounts for rollovers and remaking distributions. TurboTax generated 8606 for spouse but not me but, I have same exact situation. My basis has to be used to correctly annotate taxable amount. My spouse had correct taxable amount. Where else can that come from but 8606. I had TurboTax generate one. No info in blocks so had to overwrite based on data from 2019 form. I knew amounts to put in, so I did. Very frustrating! I spent more time on this then rest of return no counting this very annoying help function.

If you had any distribution at all that was not rolled back then you must have a 8606.

I suggest deleting the 1099R and re-enter as below.

When you get the "tracked non-deductible contributions" question does the 2019 carry forward amount populate?

Perhaps 2019 has an error and the carry forward Enter a 1099-R here:

Federal Taxes,
Wages & Income
(I'll choose what I work on - if that screen comes up)
Retirement Plans & Social Security,
IRA, 401(k), Pension Plan Withdrawals (1099-R).

OR Use the "Tools" menu (if online version left side) and then "Search Topics" for "1099-R" which will take you to the same place.

Be sure to choose which spouse the 1099-R is for if this is a joint tax return.
Be sure to pick the correct 1099-R type: Standard 1099-R, CSA-1099-R, CSF-1099-R, RRB-1099-R.

[NOTE: When you get to the "Your 1099-R Entries" screen where you can add another 1099-R, use "continue" to keep going as there are additional interview questions after that screen in most cases. You can always return as shown above.]

You will be asked of you had and tracked non-deductible contributions - say yes. The enter the amount from the last filed 8606 form line 14 if it did not transfer. Then enter the total value of any Traditional, SEP and SIMPLE IRA accounts that existed on December 31, 2020.

That will produce a new 8606 form with the taxable amount calculated on lines 6-15 and the remaining carry-forward basis on line 14.

NOTE: If there is an * next to line 15 then 6-15 will be blank and the calculations will be on the "Taxable IRA Distributions worksheet instead.basis was not in box 14 on the 2019 8606.

**Disclaimer: This post is for discussion purposes only and is NOT tax advice. The author takes no responsibility for the accuracy of any information in this post.**

CCDAve

Level 2

I have the same problem. My wife and I both have a non-deductible IRA basis that is carried forward each year on a Form 8606. This year the IRA worksheet shows it properly updated for our 2021 taxes, but only my 8606 is generated for our tax return. She has no 8606 form to print out for our records, I can only get to it thru the IRA worksheet. I'm concerned the IRS won't get her 8606. Is this a TurboTax bug? Any suggestions?

BillM223

Level 15

You are correct that the spouse's 8606-S should appear but doesn't if you indicate that all of the spouse's IRA contribution is deductible. A workaround is this: on the screen that asks if you want to make your IRA contributions deductible, for your spouse answer "Yes, make part of [spouse's name]'s IRA contribution nondeductible."

A new line will appear asking how much to make nondeductible. Enter "1" (as in one dollar).

Now your spouse's 8606 will appear, and you haven't changed your tax much (if at all).

Your 8606 is still there (8606-T, your spouse's will be 8606-S).

@CCDAve

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CCDAve

Level 2

I followed your suggestion and it did force TurboTax to generate my wife's 8606. I wish this problem would be addressed by Intuit, last year and this year were the first times in many years I've had problems using TurboTax. Thanks for your help!