Question

Turbo Tax ERROR 8606 for tax year 2021

Forum|Forum|4 years ago
March 6, 2022
1 reply
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After completing all of the recommended fixes to get Form 8606 to populate, Turbo Tax is still "broken". Form 8606 does not appear with my Federal Forms required to file. I want to file my taxes 1x, and preferably by eFile, since I paid for that service. Does anyone have other suggestions?

Thanks in advance for your help.

M

madrat45Author

UPDATE: After testing, it will populate the 8606 Form ONLY if you make a contribution for the 2021 tax year. This is different than in years past. Any additional information, would be appreciated. Thank you

D

dmertz

Employee

Nothing has changed form many year in TurboTax with regard to the need to include Form 8606. TurboTax has always properly excluded Form 8606 if there was no new nondeductible traditional IRA contribution to report, no traditional IRA distributions to report when you had basis in nondeductible traditional IRA contributions, and you did no Roth conversions.

J

JPBill

I believe TurboTax SHOULD continue Form 8606s so the basis is kept current even through years when no new nondeductible IRA contributions are made. Note: I was able to recover my Form 8606 basis continuity by going, AS DIRECTED, to line 14 on my 2020 Form 8606, but that step should not be necessary. TurboTax should do it automatically.