PSA Form 8606 available on TurboTax

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Grasshopper
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PSA Form 8606 available on TurboTax

Post by Grasshopper » Thu Feb 13, 2020 11:50 am

Got my taxes done this morning, electronic for Federal accepted in less than 15 minutes. :beer

LeeInTN
Posts: 193
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Re: PSA Form 8606 available on TurboTax

Post by LeeInTN » Fri Feb 14, 2020 1:06 pm

Interesting. I've been waiting for it, and have signed up with TT to notify me when it becomes available. No notification yet.

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alpenglow
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Re: PSA Form 8606 available on TurboTax

Post by alpenglow » Fri Feb 14, 2020 1:23 pm

Grasshopper wrote:
Thu Feb 13, 2020 11:50 am
Got my taxes done this morning, electronic for Federal accepted in less than 15 minutes. :beer
It should be available today in FFFF as well. Hopefully I'll get my taxes filed tonight.

tomd37
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Re: PSA Form 8606 available on TurboTax

Post by tomd37 » Fri Feb 14, 2020 2:56 pm

Dummy here! What is PSA form 8606 or what is PSA an abbreviation of?
Tom D.

decapod10
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Re: PSA Form 8606 available on TurboTax

Post by decapod10 » Fri Feb 14, 2020 2:58 pm

tomd37 wrote:
Fri Feb 14, 2020 2:56 pm
Dummy here! What is PSA form 8606 or what is PSA an abbreviation of?
PSA = "Public Service Announcement"

PNWChris
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Re: PSA Form 8606 available on TurboTax

Post by PNWChris » Fri Feb 14, 2020 2:59 pm

tomd37 wrote:
Fri Feb 14, 2020 2:56 pm
Dummy here! What is PSA form 8606 or what is PSA an abbreviation of?
Not dumb at all! It's IRS form 8606 (https://www.irs.gov/forms-pubs/about-form-8606) to file a nondeductible IRA contribution.

Likely folks who are waiting on it backdoor'd a Roth (https://www.bogleheads.org/wiki/Backdoor_Roth). I know that's why I was waiting!

tomd37
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Location: Middle Tennessee

Re: PSA Form 8606 available on TurboTax

Post by tomd37 » Fri Feb 14, 2020 3:07 pm

Thank you. I will need the Form 8606 as I did a Roth conversion from my traditional IRA in 2019 and all contributions to that IRA were pre-tax. I have not attempted to start my return in one of the systems yet. And,now that it has been mentioned, I also recognize PSA :oops:
Tom D.

suemarkp
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Re: PSA Form 8606 available on TurboTax

Post by suemarkp » Fri Feb 14, 2020 3:12 pm

Same happened to me. Updated turbo tax last night and all forms are complete. No email from turbo tax letting me know it was ready...
Mark | Kent, WA

Alan S.
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Re: PSA Form 8606 available on TurboTax

Post by Alan S. » Fri Feb 14, 2020 3:33 pm

Form 8606 now fully supported in Free File Fillable Forms.

It's the usual IRS Valentine's Day gift to their favorite tax strategy - the back door Roth. :annoyed

IMhooked
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Re: PSA Form 8606 available on TurboTax

Post by IMhooked » Fri Feb 14, 2020 3:33 pm

Was in the same boat. Filed yesterday evening. Never submitted my email because I knew I could count on this forum to let me know the latest status of the form. :beer

Ron
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Re: PSA Form 8606 available on TurboTax

Post by Ron » Fri Feb 14, 2020 6:32 pm

suemarkp wrote:
Fri Feb 14, 2020 3:12 pm
Same happened to me. Updated turbo tax last night and all forms are complete. No email from turbo tax letting me know it was ready...
Received notification around 5 PM EST.

- Ron

CoastalWinds
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Re: PSA Form 8606 available on TurboTax

Post by CoastalWinds » Fri Feb 14, 2020 6:34 pm

Does TurboTax have the Form 8995-A ready yet?

(For QBI and Sec 199A dividends in Box 5 on 1099-DIV).

pasadena
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Re: PSA Form 8606 available on TurboTax

Post by pasadena » Fri Feb 14, 2020 9:51 pm

Ah, good. I also got my 1099 from Schwab yesterday, so I can finish this thing!

suemarkp
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Re: PSA Form 8606 available on TurboTax

Post by suemarkp » Fri Feb 14, 2020 11:18 pm

Ron wrote:
Fri Feb 14, 2020 6:32 pm
suemarkp wrote:
Fri Feb 14, 2020 3:12 pm
Same happened to me. Updated turbo tax last night and all forms are complete. No email from turbo tax letting me know it was ready...
Received notification around 5 PM EST.

- Ron
And I did too. So not bad for Turbo Tax taking a day to get it done. I'm sure they can't send all the emails out instantly.
Mark | Kent, WA

DiploInvestor
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Re: PSA Form 8606 available on TurboTax

Post by DiploInvestor » Sat Feb 15, 2020 2:53 am

pasadena wrote:
Fri Feb 14, 2020 9:51 pm
Ah, good. I also got my 1099 from Schwab yesterday, so I can finish this thing!
Not yet. It looks like it will be ready in TT o/a Feb. 20. Quite annoying - that's all that's holding me up, and it's all for a $20 deduction based on a REIT in a taxable fund...
"History doesn’t repeat itself, but it often rhymes." -- Mark Twain

pasadena
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Re: PSA Form 8606 available on TurboTax

Post by pasadena » Sat Feb 15, 2020 11:00 am

DiploInvestor wrote:
Sat Feb 15, 2020 2:53 am
pasadena wrote:
Fri Feb 14, 2020 9:51 pm
Ah, good. I also got my 1099 from Schwab yesterday, so I can finish this thing!
Not yet. It looks like it will be ready in TT o/a Feb. 20. Quite annoying - that's all that's holding me up, and it's all for a $20 deduction based on a REIT in a taxable fund...
I was able to download both form 8606 and the Schwab 1099 yesterday. But I don't have any REIT funds, I don't know which one you're still missing?

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DameTime
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Re: PSA Form 8606 available on TurboTax

Post by DameTime » Sun Feb 16, 2020 11:20 am

TurboTax is still telling me 8606 is going to be "available soon" and I can't file. At the same time, their support stated this morning that it's not available yet and to check here for updates: https://care-cdn.prodsupportsite.a.intu ... idual.html

The link shows it is actually available. :oops:

Is this happening to anyone else?

DiploInvestor
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Re: PSA Form 8606 available on TurboTax

Post by DiploInvestor » Sun Feb 16, 2020 1:18 pm

pasadena wrote:
Sat Feb 15, 2020 11:00 am
DiploInvestor wrote:
Sat Feb 15, 2020 2:53 am
pasadena wrote:
Fri Feb 14, 2020 9:51 pm
Ah, good. I also got my 1099 from Schwab yesterday, so I can finish this thing!
Not yet. It looks like it will be ready in TT o/a Feb. 20. Quite annoying - that's all that's holding me up, and it's all for a $20 deduction based on a REIT in a taxable fund...
I was able to download both form 8606 and the Schwab 1099 yesterday. But I don't have any REIT funds, I don't know which one you're still missing?
Sorry, I meant to quote Coastalwinds re: form 8995A. My bad.
"History doesn’t repeat itself, but it often rhymes." -- Mark Twain

suemarkp
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Location: Kent, WA

Re: PSA Form 8606 available on TurboTax

Post by suemarkp » Sun Feb 16, 2020 3:17 pm

My REIT was done on an 8995 which turbo tax had. Don't know why you need the 8995-A, which sounds like it is delayed. I don't have any direct REITs either, but they must have been buried in either VIGAX (growth stocks) or VTMFX (tax managed balanced).
Mark | Kent, WA

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