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nullptr
Returning Member

TurboxTax desktop version didn't generate Form 8606 correctly

I made a non-deductible contribution of $6000 to my traditional IRA, and after some time, I rolled it over to my Roth IRA, but during this time period, there was a $1.62 earning in my traditional IRA and I only rolled over $6000. So at the end of 2020, I still have $1.62 left in my traditional IRA. I entered the 1099-R and the balance info to TurboTax, but the generated Form 8606 has nothing on Line 6. Looks like it somehow didn't think I have a distribution from my traditional IRA. When I entered all this info in the online version, it was able to recognize the prorated taxable amount, is there a bug in the desktop version?

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2 Replies
DanaB27
Employee Tax Expert

TurboxTax desktop version didn't generate Form 8606 correctly

I was not able to recreate your error. Please delete and renter your 1099-R.

 

  1. Open your return
  2. Click on "Search" on the top right and type “1099-R”
  3. Click on “Jump to 1099-R”
  4. Click "Continue" and enter the information from your 1099-R
  5. Answer questions until you get to “What Did You Do With The Money” and choose “I moved it to another retirement account
  6. Then choose “I did a combination of rolling over, converting, or cashing out money.” and enter the amount $6,000 next to "Amount converted to a Roth IRA account"
  7. On the "Your 1099-R Entries" screen click "continue"
  8. Answer "yes" to "Any nondeductible Contribution to your IRA?" if you had prior year nondeductible contributions
  9. Answer the questions about the basis and the value on Dec 31,2020.
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nullptr
Returning Member

TurboxTax desktop version didn't generate Form 8606 correctly

So I did what you said, and this time it was able to recognize the $2 taxable amount, but the generated Form 8606 still seems incorrect: Line 6~12 are all empty and Line 13 has a number of 5,998. Why would this happen? Shouldn't Line 13 be generated based on Line 11 and Line 12?

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