TurboTax will automatically generate and fill out Form 8606 (Nondeductible IRAs) if you reported conversions from a traditional, SEP, or SIMPLE IRA to a Roth IRA.
How to trigger Form 8606 in TurboTax
- Open or continue your return in TurboTax by selecting the Continue or Start button on the Tax Home screen.
- Search for this exact phrase: IRA Contribution Information.
- Select the Jump to link in the search results.
- Proceed through the IRA section, answering questions as you go.
- Answer Yes when you reach the screen Any Nondeductible Contributions to Your IRA?
- Select Continue.
- We'll generate and fill out the 8606 behind the scenes.
If your scenario is not specific as indicated above here is additional information: Where do I find Form 8606?
Also, the income cap on conversions was permanently repealed. No matter what your income, you can convert a traditional IRA to a Roth IRA. Everyone can convert to a Roth
Have an amazing day. Evelyn M (CPA 20+ years)
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