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Level 2
February 27, 2021
Question

Form 8606 T not calculating properly

  • February 27, 2021
  • 2 replies
  • 22 views

Form 8606 T Line 15C is not calculating the taxable amount of IRA distribution.  It is blank and therefore none is transferring to Form 1040 as income.  Have used this form for years and this is my first 8606 in 2020.  Is something wrong with the calculation or am I doing something wrong?  

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2 replies

February 27, 2021

There is something wrong in the program.  It is messing up a lot of returns (at least with Basic, some people are reporting that Professional is working correctly, which seems really weird).

Level 4
February 27, 2021

There's another message thread on this subject.

Both 8606T and S worked on 2/7 when I filed my own return.

Both are now broken and not calculating the amount for line 15c

You can override until PS fixes it