Inherited ROTH IRA - Form 8606 ??
I'm using FreeTaxUSA for the first time this year; for the past 20 years or so I used TurboTax…
Almost everything is going fine, except for my Inherited ROTH IRA…
FreeTaxUSA wants me to fill out a Form 8606, to find out how much of my ROTH IRA is taxable… except that NONE of it is taxable; it is a distribution from a ROTH IRA…
TurboTax never required a Form 8606, and it never took any taxes out of the RMD…
Did I check some box wrong or something?? I really don't think this diversion is valid…
Comments
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Hello Gorlash,
Since we don't have access to your account information here in the community, we cannot say for certain why the software is asking you for the information to fill out Form 8606. I would recommend contacting us through the support center in your account, and we will be able to better assist you as we can see what has been entered in your account.0 -
After further analysis, I understand how TurboTax differs in this… they ask a number of questions about the Inherited ROTH IRA, which determines whether part of that RMD is taxable… if not (and mine isn't), they don't generate the form…
FTUSA differs in that you just prompt me to fill out the form and determine what amount is taxable.
So this topic can be closed…0
