For 2010 Tax Year: 1099-R Rollover of Retirement Plan to Traditional IRA With After-Tax Contributions
Updated: 10/19/2012
Article ID: SLN48399
If you have a qualified retirement plan that has been rolled over into a traditional IRA and there is an amount in box 5 of the Form 1099-R, TurboTax for tax year 2010 does not currently ask for after tax contributions for reporting your basis on Form 8606, line 2.
Who does this affect?
This will impact those in the following scenario:
- You rolled over a qualified retirement plan into a traditional IRA.
- You have an amount in box 5 for Form 1099-R
- Your are reporting code 1,2, 7 or G in box 7 of Form 1099-R
- You have after tax contributions
Workaround
In order to report this amount for reporting your basis, you can enter this on the IRA Information Worksheet. For assistance on accessing Forms mode, please refer to the Using Forms Mode in TurboTax support article.
- In Forms mode, locate and click on the IRA Information Worksheet from the list of forms in the left side bar.
- On the worksheet locate Part III, and enter your after tax contributions on line 14 for the taxpayer or spouse.
- This basis amount will then flow to Form 8606.
