TurboTax bug for 8606? I did backdoor roth (from trad ira to roth conversion) for 2020. It left everything blank for part I and put a few numbers in part II. I'm lost!

Forum|Forum|5 years ago
April 23, 2021
1 reply
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1. contributed 7000 Trad IRA
2. converted to Roth right away with just 7000.02 balance
3. received 1099R
4. entered in TurboTax, TurboTax gives these on 8606 form
part I: all blank (no numbers filled)
Part II:
16: 7,000
17: 0
18: 7,000
It seems wrong that nothing is on Part I. When I manually fill, I will have the numbers for Part I.

TurboTax Premier Online

Best answer by macuser_22

If there is a * (asterisk) next to line 15 then the calculations were done on the "Taxable IRA Distribution Worksheet" instead of the 8606 lines 6-13. This worksheet is described in IRS Publication 590-B worksheet 1-1.

https://www.irs.gov/publications/p590b#en_US_2020_publink1000270091

macuser_22

Employee

That would indicate that you failed to report the $7,000 contribution and specify that it shoukd be non-deductible. It should be on the 8606 line 1.

Enter IRA contributions here:
Federal Taxes,
Deductions & Credits,
I’ll choose what I work on (if that screen comes up),
Retirement & Investments,
Traditional & Roth IRA contribution.

OR Use the "Tools" menu (if online version under My Account) and then "Search Topics" for "ira contributions" which will take you to the same place.

**Disclaimer: This post is for discussion purposes only and is NOT tax advice. The author takes no responsibility for the accuracy of any information in this post.**

robot9998Author

Thank you for the tip. After I entered contrbution, now it shows up in Part I. The problem is that line 8 is still blank. Line 8 is "Enter the net amount you converted from traditional, SEP, and SIMPLE IRAs to Roth IRAs in 2020. Also enter this amount on line 16........."

macuser_22Answer

Employee

**Disclaimer: This post is for discussion purposes only and is NOT tax advice. The author takes no responsibility for the accuracy of any information in this post.**