Turbotax generating incorrect Form 8606

Forum|Forum|3 years ago
April 18, 2023
1 reply
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Similar to last year Turbotax is generating incorrect form 8606.I am using premier online version. I entered 1099-R details, followed prompts and selected the non taxable options. The total basis is being incorrectly reported.This happened last year as well but I noticed this only this year.I've filed an amendment for last year but I want to make sure I file this year's form 8606 correctly.

I cannot access the form to edit and fix it. Just before filing I can view all the forms and I see the issue.How can I fix this? In the below image, line 13 should be 0 and total basis should be 18,000.

TurboTax Premier Online

fanfare

Level 15

what is your 1099-R about ?

what is the code in Box 7 ?

@vikas_217

vikas_217Author

Level 2

@fanfare Code is 2.

DanaB27

Level 15

@DanaB27

why is that distribution not showing on Line 7?

Yes, a conversion will reduce the basis in your traditional IRA.

TurboTax is using Worksheet 1-1. Figuring the Taxable Part of Your IRA Distribution to calculate the nontaxable portion on line 13 (indicated by the * next to it). Therefore, lines 6 through 12 are empty.

Please check your return for the "Taxable IRA distribution Worksheet"

@vikas_217

@fanfare

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