Question

Broken link: IRA Info Worksheet to

Forum|Forum|2 years ago
February 2, 2024
1 reply
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IRA Information Worksheet line 18 (Combined value of all traditional IRAs) does not populate Form 8606 line 6 (Combined value of all traditional IRAs).

Those of us who saved more than what was deductible years ago will have a Taxable Amount of IRA distributions less that what is reported on our 1099-R. This broken link results in the Taxable Amount being too high. It also affects Form 8606 line 14 the basis for 2023 and earlier years.

Please update.

D

dmertz

Employee

If lines 13 and 15c of Form 8606 have asterisks next to them TurboTax is doing the calculation on Worksheet 1-1 from IRS Pub 590-B and is properly leaving lines 6 through 12 of Form 8606 blank.

If TurboTax was simply failing to account for the amount from line 18 of the IRA Information Worksheet, TurboTax would be calculating a taxable amount that is too low, not too high. It's quite likely that the taxable amount that TurboTax is calculating is correct.

S

SLKislingAuthor

No, it seems like a simple broken link: If I double-click on line 6 of Form 8606 it takes me to line 18 of the IRA Information Worksheet. The entry I made there is not carried over to Form 8606. Similarly, "QuickZoom to enter the year end traditional IRA value" takes me to line 18 of the Worksheet, but again... that value does not populate line 6 of the 8606 as it should.

This is a Mac, remember, and there's far fewer people running TurboTax on this platform than on Windows. Additionally, there's likely very few people affected, since most people's Taxable Amount of their IRA distribution is the same as what's shown on their 1099.

D

dmertz

Employee

There is no broken link. Look for the Taxable IRA Distribution Worksheet in forms mode (likely last in the list of federal forms included in your tax return) where you'll find on line 4 the amount from line 18 of the IRA Information Worksheet.