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Backdoor Roth IRA on Turbotax

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  • Backdoor Roth IRA on Turbotax

    No matter what instructions I see online regarding properly filling out 8606 for a backdoor Roth IRA on TurboTax, I can't seem to get it to enter properly. Does anybody have a good set of instructions? Perhaps Jim can add it to his tutorial? This is what my 8606 looked like last year after I filled it out according to one set of instructions. What are the tax implications of this?

    In 2018, TurboTax did not include a 8606 at all and in 2017 it included a form 8606 that was left completely blank. Why is it doing this??

    Along those lines, how do I go about correcting it??
    Last edited by wcinewbie; 12-26-2020, 05:35 PM.

  • #2
    Read: https://forum.whitecoatinvestor.com/...-ira-home-base

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    • #3
      Properly entering my backdoor roth IRA form 8606 on turbotax did not change my refund. Do I still need to send in addended taxes?

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      • #4
        It shouldn't change your refund/taxes owed. That's the point. After tax contributions converted to Roth.

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        • #5
          Originally posted by wcinewbie View Post
          Properly entering my backdoor roth IRA form 8606 on turbotax did not change my refund. Do I still need to send in addended taxes?
          havent used TT in years, but went back and looked at my old returns.
          6-12 didnt get filled, but arnt important anyways.
          16-18 are important, and are correctly filled out.

          so this leads me to believe this is user error, you are missing something somewhere, didnt answer the questions correctly, etc.

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