Please post your completed 8606 for backdoor roth for 2017

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boglechu
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Please post your completed 8606 for backdoor roth for 2017

Post by boglechu » Sun Mar 11, 2018 8:02 pm

Here's my completed form: https://photos.app.goo.gl/o8aZnJbZSYn8mA0u1

I'd like to see what others did for comparison.

Thanks.

pkcrafter
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Re: Please post your completed 8606 for backdoor roth for 2017

Post by pkcrafter » Sun Mar 11, 2018 8:38 pm

I don't think you are going to get any replies related to this question.


Paul
When times are good, investors tend to forget about risk and focus on opportunity. When times are bad, investors tend to forget about opportunity and focus on risk.

epargnant
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Re: Please post your completed 8606 for backdoor roth for 2017

Post by epargnant » Sun Mar 11, 2018 9:09 pm

Whitecoatinvestor has a post about this form with a filled-out example (it's basically the same as this year's unless you lived in a disaster area and took hardship withdrawals).

https://www.whitecoatinvestor.com/backd ... -tutorial/

Grt2bOutdoors
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Re: Please post your completed 8606 for backdoor roth for 2017

Post by Grt2bOutdoors » Mon Mar 12, 2018 6:09 am

OP - is this a joke?
"One should invest based on their need, ability and willingness to take risk - Larry Swedroe" Asking Portfolio Questions

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cheese_breath
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Re: Please post your completed 8606 for backdoor roth for 2017

Post by cheese_breath » Mon Mar 12, 2018 6:25 pm

This isn't going to do me any good unless you include your name, address and SS#.
The surest way to know the future is when it becomes the past.

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cockersx3
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Re: Please post your completed 8606 for backdoor roth for 2017

Post by cockersx3 » Mon Mar 12, 2018 7:23 pm

epargnant wrote:
Sun Mar 11, 2018 9:09 pm
Whitecoatinvestor has a post about this form with a filled-out example (it's basically the same as this year's unless you lived in a disaster area and took hardship withdrawals).

https://www.whitecoatinvestor.com/backd ... -tutorial/
My (and my wife's) 8606 forms looked exactly like the image in this web page - form really hasn't changed that much.

If you use software to do your own taxes, I recommend googling "backdoor Roth" and your tax software name to get instructions on how to fill the form out properly. I used H&R Block, and would never have answered the questions correctly if it wasn't for doing some searching, (Even though the form is pretty simple, the questions they had on H&R Block seemed very confusing to me - answers didn't seem obvious.) I then used WCI's post to compare against before submitting,

Leesbro63
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Re: Please post your completed 8606 for backdoor roth for 2017

Post by Leesbro63 » Tue Mar 13, 2018 8:08 am

Turbotax does this slightly differently, at least for 2017. TT puts nothing on lines 8,9, 10 & 11. Instead, it pulls from a worksheet, that does not get filed, and puts an asterisk at lines 13, 15c and 18. And under lines 15c and 18 there is an explanation for the asterisk (the exact same statement in both places) "From Taxable IRA Distribution Worksheet (per IRS Pub. 590-B)". The worksheet is similar to lines 8,9, 10 & 11.

What bothers me is that line 8 specifically asks for all amounts converted to a Roth IRA. And Turbotax has this as zero, although I guess the assumption is that the asterisked comment explains it. I hope the IRS computers don't generate an annoying nastygram, but my guess is that even if it does, a simple explanation will make this go away.

What do you think? Will the lack of numbers on lines 8-11 cause an IRS computer mis-match?

retiredjg
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Re: Please post your completed 8606 for backdoor roth for 2017

Post by retiredjg » Tue Mar 13, 2018 8:30 am

The lack of numbers on lines 8 - 11 are the result of using the worksheet(s) and several of the tax software products do it that way. There is even a point in the instructions (found in Pub 590b) to skip those lines and use the worksheet instead. The problem is that people doing Form 8606 by hand may never see that instruction because there is no apparent need to go looking for more instruction.

We've seen this many times before. To my knowledge, there has never been a problem if the right amounts show up as taxable and as basis left for the next year.

Leesbro63
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Re: Please post your completed 8606 for backdoor roth for 2017

Post by Leesbro63 » Tue Mar 13, 2018 9:32 am

That explains it! After seeing The White Coat Investor’s Form 8606, I thought I got it wrong. I guess TurboTax is OK after all! Thank you for clarifying this.

boglechu
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Re: Please post your completed 8606 for backdoor roth for 2017

Post by boglechu » Tue Mar 13, 2018 10:17 am

My Accountant Generated 8606 has the following
:
LIne 1: 5500
Line 2: 0
Line 3: 5500
Line 5: 5500
Line 13: 5500 *
Line 14: 0
Line 15a: 0 *
Line 15c: 0
Line 16: 5503 [Corresponds to Box 1 value from 2017 1099-G for Backdoor roth conversion]
Line 17: 5500 [Corresponds to Amount Deducted to Traditional IRA]
Line 18: 3 * [Difference between Line 16 and line 17]
All the other lines blank.

So similar to my paper version.

retiredjg
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Re: Please post your completed 8606 for backdoor roth for 2017

Post by retiredjg » Tue Mar 13, 2018 10:34 am

This is what I thought software would produce. Use it and don't worry about it.

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