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Roth IRA conversion & Form 8606

khorshed
Level 3

Retired couple in their late 70's, made a $40K Roth IRA conversion from Traditional IRA.

Fidelity sent them a letter seeing they must file Form 8606 (Nondeductible IRA).

When I go to Form 8606 Part II line 16 is blank, when I click on it takes me to the 1099R.

My question is why line 16 on Form 8606 is blank?

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qbteachmt
Level 15

You fill in the info from the 1099-R. Then, you use the Form 8606 for the details that apply.

And this cannot exist: "Retired couple in their late 70's, made a $40K Roth IRA conversion from Traditional IRA."

There is One Account Owner. That is who you are working on for this task. That one person: taxpayer or spouse.

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khorshed
Level 3

Thank you, The question's I filled out 1099R worksheet why Form 8606 is not populated.

You're absolutely correct, it's the taxpayer not the spouse.

Thank you again

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qbteachmt
Level 15

"why Form 8606 is not populated"

Once you fill in the 1099-R, you need to also indicate that this was converted and not simply kept as a distribution. Or, if the 1099-R code is Direct Transfer, that still means the sending entity might not code it as Conversion; they code it for the money Out, and not what is happening at the receiving end.

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