My form 8606 is not having line 6 calculated, and Turbo Tax is not asking for the value to be entered.

Forum|Forum|1 year ago
March 16, 2025
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In prior years this information was requested

Best answer by DanaB27

Thank you very much for your persistence with this issue! I have been working on it forever!

Yes, I have tried deleting the 1099-R and redoing with manual entry. Tried this several times, both uploading from Fidelity and doing it manually.

The code in box 7 is 7. The IRA/SEP/SIMPLE box is checked. The gross distribution number in box 1 is a combination of a required IRA distribution and a Roth conversion from the same account.

My token no. is 1290723@DanaB27

Thank you. I reviewed your token.

Please be aware you are not allowed to convert RMDs. Therefore, you need to ensure you do not apply the whole distribution towards your RMD.

Please go back to the retirement section and edit the 1099-R with code 7:

One the "How much of This Distribution Applied to your December 31, 2024 RMD" screen select "Some of this distribution…". Since this distribution includes the RMD for another IRA account you will need to add the RMD for distribution IRA account plus the RMD amount you entered on the "Total RMD for all other IRAs" screen at the end of the retirement interview. Then enter this amount on the "How much of This Distribution Applied to your December 31, 2024 RMD" screen.
Continue and you will get the “Tell us if you moved the money through a rollover or conversion" screen. Keep in mind you can only convert the amount that was taken in excess of the RMD.

DanaB27

Make sure you checked the IRA/SEP/SIMPLE box when you entered your Form 1099-R. Please click continue after you entered all Form 1099-Rs then you should see the the value question.

Click on "Search" on the top right and type “1099-R”
Click on “Jump to 1099-R”
On the "Review your 1099-R info" screen click "Continue"
Answer "Yes" to "Any nondeductible Contributions to your IRA?" if you had any nondeductible contributions in prior years.
Answer the questions about the basis from line 14 of your 2023 Form 8606 and the value of all traditional, SEP, and SIMPLE IRAs

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jcmoor499Author

Thanks, but the only way I could get it to work was to delete the 1099-R and start over, because the question that would populate line 6 never appeared initially. When I deleted and re-entered, it worked. Now, however the 8606 still shows an error-line 8, where the amount of Roth conversion is supposed to be indicated, is also blank. I assume there is supposed to be a point where this question is also asked, but like before, the question never comes up. Looks like a Turbo Tax glitch to me. Is there any way to notify them?

DanaB27

Please follow these steps to enter the conversion if you use TurboTax Online:

Click on "Search" on the top right and type “1099-R”
Click on “Jump to 1099-R”
Click "Continue" and enter the information from your 1099-R
Answer questions until you get to “Tell us if you moved the money through a rollover or conversion” and choose “I converted some or all of it to a Roth IRA”
On the "Review your 1099-R info" screen click "Continue"
Answer "Yes" to "Any nondeductible Contributions to your IRA?" if you had any nondeductible contributions in prior years.
Answer the questions about the basis from line 14 of your 2023 Form 8606 and the value of all traditional, SEP, and SIMPLE IRAs

In TurboTax Desktop:

Click "Federal Taxes" on the top and select "Wages & Income"
Click "I'll choose what to work on"
Scroll down and click "Start" next to "IRA, 401(k), Pension Plan (1099-R)"
Answer "Yes" to the question "Did You Have Any of These Types of Income?"
Click "I'll Type it Myself"
Choose "Form 1099-R, Withdrawal of Money from 401(k) Retirement Plans, Pensions, IRAs, etc."
Click "Continue" and enter the information from your 1099-R
Answer questions until you get to “What Did You Do With The Money” and choose “I moved it to another retirement account”
Then choose “I did a combination of rolling over, converting, or cashing out money.” and enter the amount next to "Amount converted to a Roth IRA account"
On the "Your 1099-R Entries" screen click "continue"
Answer "yes" to "Any nondeductible Contribution to your IRA?" if you had any nondeductible contributions in prior years.
Answer the questions about the basis from line 14 of your 2023 Form 8606 and the value of all traditional, SEP, and SIMPLE IRAs