If you have both a distribution from an IRA and contributions to an IRA in the current year, which may not be deductible because of your income level, you will need to use Worksheet 1-1 from IRS Publication 590-B, page 15, when completing Form 8606. This worksheet parallels and replaces the calculations on lines 6 through 12. The TaxAct program will automatically populate this worksheet if it is needed and you will see asterisks next to lines 13 and 15 indicating that the Publication 590-B worksheet is being used.
To view this worksheet in the TaxAct program:
Note: If you see a message indicating you have not paid your return fees, click the View/Pay link, which will direct you through the Paper Filing steps. Continue through the screens until you have processed the payment for your product fees and then repeat the steps to print.