When entering a back door roth conversion, should Part 1 of form 8606 be populating?
If not, how do I prevent it from populating?
Client contributed to Traditional IRA in 2019, then immediately converted to Roth in 2019. Basis is same as the amount converted, so they should not owe tax on the distribution on the 1099 R
In the past on PY returns that I have not prepared, 8606 part 1 has been blank with only Part 2 having any info
Edit to add - the client letter also has the paragraph about making the ira contribution, I don’t think this should be there because they’ve already made a contribution and then converted it into a Roth. Will fixing part 1 of 8606 as referenced above make that part of the client letter go away? How do I fix? This is my first return in the software so I am still learning.
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