why my 8606 didn't show up?

Forum|Forum|4 years ago
March 28, 2022
2 replies
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I did backdoor Roth in 2021. I entered everything and see that 1040 4a =12000, and 4b=0, and schedule 1 line 20 is blank. Looks like everything is good, except that I can't see my 8606 form. And the TT is not reading the 8606 info that I entered last year ( since it keeps telling me my 2020 non-deducible basis is 0, but it is not). Anyone can help? Thanks!

TurboTax Home & Biz Windows

Best answer by DanaB27

To verify, you followed these steps to enter the 2021 nondeductible contribution on your 2021 tax return:

Click “Deductions &Credits” on the top
Click "I'll choose what to work on"
Scroll down to “Traditional and Roth IRA Contributions” and click “Start”
Select “traditional IRA” for both you and your spouse
Answer “No” to “Is This a Repayment of a Retirement Distribution?”
Enter the amount you contributed
Answer “No” to the recharacterized question on the “Did You Change Your Mind?” screen
Answer the next questions until you get to “Any Nondeductible Contributions to Your IRA?” and select “Yes” if you had nondeductible contributions before this tax year
If you had a basis in the Traditional IRA before then enter the amount (your 2020 Form 8606 line 14).
Answer “No” to “Is This a Repayment of a Retirement Distribution?”
Enter the amount your spouse contributed
Answer “No” to the recharacterized question on the “Did You Change Your Mind?” screen
Answer the next questions until you get to “Any Nondeductible Contributions to Your IRA?” and select “Yes” if your spouse had nondeductible contributions before this tax year
If you had a basis in the Traditional IRA before then enter the amount (your spouse's 2020 Form 8606 line 14).
On the “Choose Not to Deduct IRA Contributions” screen choose “Yes, make part of my IRA contribution nondeductible” and enter the amount for you and your spouse (if you have a retirement plan at work and are over the income limit it will be nondeductible automatically and you only get a warning and then a screen saying $0 is deductible).

After you entered all this you still do not see Form 8606?

FangxiaL

Level 10

I assume the $12,000 includes a $6,000 contribution to Traditional IRA for 2021. Did you enter it first before you entered your 1099-R?

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tianwaifeixianAuthor

Level 5

yes, I contributed 6000, my husband also contributed 6000. So the total for us is 12000

DanaB27Answer

Level 15

To verify, you followed these steps to enter the 2021 nondeductible contribution on your 2021 tax return:

Click “Deductions &Credits” on the top
Click "I'll choose what to work on"
Scroll down to “Traditional and Roth IRA Contributions” and click “Start”
Select “traditional IRA” for both you and your spouse
Answer “No” to “Is This a Repayment of a Retirement Distribution?”
Enter the amount you contributed
Answer “No” to the recharacterized question on the “Did You Change Your Mind?” screen
Answer the next questions until you get to “Any Nondeductible Contributions to Your IRA?” and select “Yes” if you had nondeductible contributions before this tax year
If you had a basis in the Traditional IRA before then enter the amount (your 2020 Form 8606 line 14).
Answer “No” to “Is This a Repayment of a Retirement Distribution?”
Enter the amount your spouse contributed
Answer “No” to the recharacterized question on the “Did You Change Your Mind?” screen
Answer the next questions until you get to “Any Nondeductible Contributions to Your IRA?” and select “Yes” if your spouse had nondeductible contributions before this tax year
If you had a basis in the Traditional IRA before then enter the amount (your spouse's 2020 Form 8606 line 14).
On the “Choose Not to Deduct IRA Contributions” screen choose “Yes, make part of my IRA contribution nondeductible” and enter the amount for you and your spouse (if you have a retirement plan at work and are over the income limit it will be nondeductible automatically and you only get a warning and then a screen saying $0 is deductible).