In certain situations (such as recharacterization of an IRA contribution or Roth IRA conversion, return of IRA contributions, or return of excess traditional IRA contributions), a statement must be attached to your return explaining the recharacterization or distribution. IRS Instructions for Form 8606 Nondeductible IRAs provides the most definitive guidance for reporting recharacterizations. You can create this attachment in the TaxAct® program, and it will be attached to your return when you e-file or print.
To attach an IRA distribution explanation in the TaxAct program:
Note that any link in the information above is updated each year automatically and will take you to the most recent version of the webpage or document at the time it is accessed.