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Topic: Entering in Program - Form 8606

IRS Form 8606 is used to report:

Nondeductible contributions you made to traditional IRAs
Early and normal distributions from traditional, SEP, SIMPLE IRAs (not including a rollover, qualified charitable distribution, distribution to fund an HSA, conversion, recharacterization, or return of certain contributions), if you have ever made nondeductible contributions to traditional IRAs
Early distributions from Roth IRAs (other than a rollover, rechacterization, or return of certain contributions)
Conversions from traditional, SEP, SIMPLE IRAs to Roth IRAs; and

For additional information see the IRS Instructions for Form 8606.

To enter, review, or delete information for Form 8606:

From within your TaxACT return (Online or Desktop), click on the Federal Q&A tab
Click Retirement Plan Income to expand the category and then click [Taxpayer or Spouse] Nondeductible IRAs (Form 8606)
The program will proceed with the interview questions for you to enter or review the appropriate information

You may also access the Form 8606 Q&A screens by clicking Continue from the Form 1099-R - Summary screen.

Please Note: The TaxACT program will only prompt the Form 8606 Q&A screens applicable in your situation, based on your previous entries. If you're not able to access the Form 8606 Q&A screens, you may need to review your Form 1099-R entries and/or the information entered for nondeductible traditional IRA contributions.

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