rmw21
Level 1
02-27-2021
02:45 PM
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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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TaxGuyBill
Level 15
02-27-2021
03:11 PM
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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).
FrankK
Level 4
02-27-2021
03:42 PM
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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
