Form 8606 preventing me from filing return

[gauss]

Form 8606 is available. This looks like an issue with TurboTax.

Thanks MichaelB.

Looking at the 2017 8606, it appears that the form has been updated to reflect the new changes in the tax law regarding disaster (ie hurricane) relief.

-gauss

 

[wenglish]

Quick question about 8606 if I may.

If I didn't do any kind of Roth/Traditional conversions, but simply contributed to a non-deductible traditional IRA (because my AGI was too high for a Roth IRA), should that generate a form 8606?

I ask because for 2015 & 2016 (when I also contributed to a non-deductible traditional IRA), H&R Block did not generate a form 8606 for either tax year. Yet for 2017, H&R Block and Turbo Tax both generated an 8606 (and at the time said the form wasn't available, like others are reporting here).

This implies that either I answered an interview question wrongly this year, or H&R Block messed up the previous two years. Any thoughts on which is the case, and what can/should I do about it if the previous years were done wrongly?

Thanks.

PS - edited to add - there was one difference between 2017 and 2015/2016 - in 2017 my wife started taking a pension and did a direct rollover of a 403(B) to an existing rollover IRA. Might one of those actions be generating the 8606?

 

[gindie]

My understanding is that an 8606 needs to be generated for any year that a non-deductible contribution is made to a Traditional IRA, in order to keep track of the tax basis of the IRA.

 

[wenglish]

Looks like you are right, thanks.

I'm not sure if, when filing my 2015 taxes, HR Block messed up (not generating an 8606), or I messed up (answering a question incorrectly).

 

[gauss]

Looks like you are right, thanks.

I'm not sure if, when filing my 2015 taxes, HR Block messed up (not generating an 8606), or I messed up (answering a question incorrectly).

I have "revised" my 8606s for errors by sending in a new one after the fact along with a cover letter describing the problem. This did not effect my 1040 so I might not have actually submitted a 1040-X.

The IRS acknowledged my submission with a letter a month or two later saying that my account has been updated to reflect the revised 8606.

I basically forgot about a 401K--> Roth rollover that had my Roth basis off by a significant amount.

 

[kaneohe]

Looks like you are right, thanks.

I'm not sure if, when filing my 2015 taxes, HR Block messed up (not generating an 8606), or I messed up (answering a question incorrectly).

and don't forget..........since the 8606s are cumulative.....they build on the previous 8606.......you need to correct the earliest incorrect one, then do the next oldest incorrect one. etc. and then finally the most recent one.

 

[wenglish]

Good to know, gauss & kaneohe, thanks.

If it takes them a month or so to process and acknowledge, I don't think there's enough time to submit forms 8606 for 2015, then 2016, and later efile 2017.

I think I'll send in forms 8606 for 2015 & 2016 together ASAP (with a cover letter), then hold off on efiling 2017 for a while.

Thanks again.