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October 30, 2024
Question

I need help to file my client’s 8606 Form and ROTH conversion on this Form.

  • October 30, 2024
  • 1 reply
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    evelynm
    October 30, 2024

    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

    1. Open or continue your return in TurboTax by selecting the Continue or Start button on the Tax Home screen.
    2. Search for this exact phrase: IRA Contribution Information.
    3. Select the Jump to link in the search results.
    4. Proceed through the IRA section, answering questions as you go.
    5. Answer Yes when you reach the screen Any Nondeductible Contributions to Your IRA?
    6. Select Continue.
    7. 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    Also, the income cap on conversions was permanently repealed.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)I would love a thumbs up :) + Mark the post that answers your question by clicking on "Mark as Best Answer"