Form 8606 – Entering IRAs in Program
Use Form 8606 to report the following:
- Nondeductible contributions you made to traditional IRAs;
- Distributions from traditional, SEP, or SIMPLE IRAs, if you have a basis in these IRAs;
- Conversions from traditional, SEP, or SIMPLE IRAs to Roth IRAs; and
- Distributions from Roth IRAs.
For info on entering Form 1099-R in the TaxAct program, go to our Form 1099-R – Entering Distributions from Retirement Plans FAQ. To enter, review, or delete information for Form 8606, follow the steps below.
Note: The TaxAct program will only prompt the Form 8606 Q&A screens applicable in your situation based on your previous entries. If you are not able to access the Form 8606 Q&A screens, you may need to review your Form 1099-R entries and/or the information entered for nondeductible traditional IRA contributions.
Online
Dashboard
- From within your TaxAct return, click Income.
- On smaller devices, click the menu at the top left corner of your screen, then make your selection.
- Expand the Retirement & Social Security drop-down.
- Click Add beside Nondeductible IRAs (Form 8606).
- Complete the rest of the interview process.
Classic
- From within your TaxAct return, click Federal.
- On smaller devices, click the menu at the top left corner of your screen, then make your selection.
- Click the Retirement Plan Income drop-down, then click [Name] Nondeductible IRAs (Form 8606).
- Complete the rest of the interview process.
Desktop
- From within your TaxAct return, click Federal.
- Click the Retirement Plan Income drop-down, then click [Name] Nondeductible IRAs (Form 8606).
- Complete the rest of the interview process.
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