Mar 30, 2025 · I need to file amended returns for the last 3 years due to not handling nondeductible IRA basis tracking correctly on form 8606. Per the IRS, you can use tax …

We'll automatically generate and fill out Form 8606 (Nondeductible IRAs) if you reported any of these on your tax return:Nondeductible contributions made to a t

Feb 18, 2025 · The IRS see all traditional IRA's as one account for Form 8606 (exception if you have an inherited IRA, then you need a separate Form 8606). No, you must enter the value of …

Feb 5, 2025 · After this you should get a screen saying $0 of your IRA deduction are deductible and TurboTax will create Form 8606 for you. To enter the nondeductible contribution to the …

Feb 1, 2025 · The submitted 2023 Form 8606 becomes your most recently filed Form when preparing 2024 tax return. You didn't say if you are making a non-deductible contribution for …

Apr 11, 2025 · Your wife also should have a 2023 Form 8606 with a basis of $6,500 on lines 1, 3, and 14. This basis has to be entered in the 2024 return when TurboTax asks “Any …

Feb 24, 2025 · Filing a Form 8606 for no other reason than to show on lines 2 and 14 your existing basis from prior years is extraneous. The IRS wants your tax return to include Form …

Mar 15, 2025 · Yes, you can file the 2023 Form 8606 if it wasn't included on your 2023 original return. Please see How do I amend my federal tax return for a prior year? You will enter the …

Jan 24, 2025 · Form 8606 Bug I know I can get around this bug by going out of Step by Step mode and going into Forms mode, but there's a navigation problem on Form 8606. The form …

Dec 12, 2024 · Part II of Form 8606 was entirely necessary before 2010 for the IRS to be able to properly process your tax return because before 2010 eligibility to do a Roth conversion was …