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Any luck with Credit Karma 8606?

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  • Craigy Craigy 
    Participant
    Status: Spouse
    Posts: 1868
    Joined: 09/16/2016
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    Anyone having success with Credit Karma filling out the 8606?

    It seems to get page 2 correct, but leaves page 1 (and part I) completely empty.  No way I have found to override either.

    Really wanted to file with CK this year.  Rest of the return has been flawless.

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    #196618 Reply
    Craigy Craigy 
    Participant
    Status: Spouse
    Posts: 1868
    Joined: 09/16/2016

    To update, I searched high and low, played around with all the tick boxes and yes/nos, and came up empty.

    Filed with Turbotax.  Oh well CK!

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    #197457 Reply
    Avatar justlearning 
    Participant
    Status: Other Professional, Spouse
    Posts: 114
    Joined: 08/15/2017

    To update, I searched high and low, played around with all the tick boxes and yes/nos, and came up empty.

    Filed with Turbotax.  Oh well CK!

    Click to expand…

    Did you use TT online or CD version? Did it reflect the numbers correctly on 8606?

    #197575 Reply
    Craigy Craigy 
    Participant
    Status: Spouse
    Posts: 1868
    Joined: 09/16/2016

    To update, I searched high and low, played around with all the tick boxes and yes/nos, and came up empty.

    Filed with Turbotax.  Oh well CK!

    Click to expand…

    Did you use TT online or CD version? Did it reflect the numbers correctly on 8606?

    Click to expand…

    CD.

    It doesn’t fill it out like I would, but I’m guessing it’s good enough.  It leaves 8, 9, 10, 11 blank, but nets to the right amount.

    I used TT last year and it looks exactly the same, and (touch wood) I didn’t get any notice from the IRS, for what that’s worth.

    CK, on the other hand, left all boxes blank on page 1, most importantly IMO box 1, where you declare your nondeductible contributions to traditional IRAs.

    While CK appeared to get Page 2 correct, the blank page 1 bugged me too much, particularly when I’ve heard of a lot of people getting IRS notice letters last year (on here, bogleheads, etc).  While the fix should be relatively easy (send in a corrected 8606), in my experience you really don’t want to have any incidents with the IRS as their staff is almost always very stressed and prone to error.

    Neither is perfect but it seems TT is substantially less imperfect.

    I got to borrow my mother-in-law’s copy of TT for free so that made the decision to go with TT easier.  You could technically fill out and send in your own paper 8606, but personally I’d spring for the $40 copy of TT and just be done with it, avoid any worry and hassle.

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    #197593 Reply
    Liked by justlearning
    Avatar Brains428 
    Participant
    Status: Physician
    Posts: 215
    Joined: 11/09/2017

    Any reason to not just do it online?

    I submitted online and also did amended online for this year.  Still gotta send the amended version via snail mail. Process of doing it was straight forward, though.

    #197594 Reply
    Craigy Craigy 
    Participant
    Status: Spouse
    Posts: 1868
    Joined: 09/16/2016

    Any reason to not just do it online?

    I submitted online and also did amended online for this year.  Still gotta send the amended version via snail mail. Process of doing it was straight forward, though.

    Click to expand…

    Not to my knowledge.

    I used to use TT online.  Online it even shows you your state return info, if I recall correctly.  Also in general most online tax filing companies will let you get all the way to the end without paying, so you can compare results before you pay to file.

    Only reason I use the CD is because I get it for free.  I have to file my own state return but my state has a somewhat decent process.  I believe TT online and disc comes with 1 state.

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    #197611 Reply

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