IRA Info Worksheet not transferring data

[JML222]

On the IRA Info Worksheet, Line 18, Part IV asks for the combined value of all IRA’s as of 12/31/2020. I am entering values on Line 18 for both taxpayers.
From what I can see, these entered values on the IRA INfo Worksheet should carry over to Form 8606, Line 6. I am not seeing the carrying of the entries. Appreciate any insight.

Thanks!

[hgtc]

I have same problem with 2022 Lacerte.  Taxpayer made non-deductible IRA and converted to Roth IRA in 2022.  But, Form 8606 Line 6 does not show total IRA value  (actually it show "0".)

Spoke with Lacerte, they suggest to remove $6000 input of non-deductible IRA, Line 6 show total value, but, line 1 did not show the $6000 nondeductible IRA contributed in 2022.  And, Lacerte client letter said taxpayer should withdraw $6000 to avoid penalty.

Does anyone have solution for this?  Thanks.

[qbteachmt]

"should carry over to Form 8606, Line 6."

8606-T and 8606-S, never combined on the one 8606.

"I have same problem with 2022 Lacerte."

The total is Per Owner. MFJ does not mean you combine their IRA account values. "all your traditional, SEP, and SIMPLE IRAs as of December 31, 2022" means, aggregating these account types, for purposes of figuring basis, % taxable, etc, for this one owner (who might have any number of these various plan accounts).

As for the rest, are you trying to enter that a Backdoor Roth of $6k happened in 2022? If so, did this person have no other amounts in any of these account types?

Backdoor only works as nontaxable when this contribution was made as nondeductible and nearly immediately converted and there are no other amounts in Trad IRS, SEP or SIMPLE; or, only Basis in any of these other account types.

[qbteachmt]

Here is the Lacerte article for conversion:

https://proconnect.intuit.com/support/en-us/help-article/retirement-tax-credits-deductions/report-co...

For nondeductible contribution:

https://proconnect.intuit.com/support/en-us/help-article/retirement-tax-credits-deductions/form-8606...

Backdoor Roth is the same as both steps.

[hgtc]

Taxpayer did backdoor IRA in 2022.  He has taxable IRA in another brokerage firm and has basis on that account.  Taxpayer does not qualified for tax deductible IRA.

I input as instructed by Lacerte.  But, I also enter $6000 under "2022 nondeductible contribution" because he contributed in 2022 already.  

1.  If I do not enter this $6000 for 2022 contribution, Lacerte's client letter show that taxpayer should withdraw right away to avoid penalty.  And, Form 8606 Line 1 for current year contribution $6000 is missing.  Somehow, Lacerte does not recognize this as "non-deductible IRA".

2.  But, if I input 2022 $6,000 non-deductible IRA contribution, Form 8606 Line 6 will show "0".  But the worksheet calculated correctly.  Problem is I do not know how to change the worksheet to statements so that IRS can see the calculation.

I do not have this problem for 2021 Lacerte program....

[qbteachmt]

"Somehow, Lacerte does not recognize this as "non-deductible IRA"."

Because it is coming up as Disallowed, as Excess.

"Taxpayer did backdoor IRA in 2022."

So, they earn too much to qualify to put in Roth directly?

"He has taxable IRA in another brokerage firm and has basis on that account."

They still get aggregated, so you know some of the backdoor is a taxable conversion.

"Problem is I do not know how to change the worksheet to statements"

I would start over with those entries, using the two articles I linked for reference.

And if you still have questions, I recommend starting your own topic in the Lacerte section, and not updating a ProSeries topic from 2 years ago.

[hgtc]

Thank you, will try again.