I had to recharacterize a 2020 Roth IRA contribution, and I need to include an explanatory statement to Form 8606 with my federal tax return. In other threads, I've seen people say some tax filing software like TurboTax prompts them with a text box for this statement, if they indicate they have a qualifying situation.
I was planning to use Credit Karma Tax to file my taxes for 2020. I've inputted all of my information and Form 8606 appears to be completed correctly. But, CKT didn't prompt me to provide an explanatory statement about the recharacterization.
I searched Google and this forum to see if anyone else had encountered this issue. If it's not a feature available on CKT, I'll just have to use another software program to file my return. Thanks in advance, everyone.
Form 8606 Explanatory Statement: Credit Karma Tax
-
- Posts: 4284
- Joined: Thu Apr 23, 2020 12:44 pm