The Money Mustache Community
Learning, Sharing, and Teaching => Taxes => Topic started by: swampwiz on January 27, 2018, 02:48:15 AM
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We have just passed the last work day before the official opening day of tax season, and the all-important (for us moustachers) 8606 form has not been released!
The link @ the IRS website is the 2016 form:
https://www.irs.gov/pub/irs-pdf/f8606.pdf
There is however a draft one for 2017, which seems to be the same except for the year:
https://www.irs.gov/pub/irs-dft/f8606--dft.pdf
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That means you're waiting to file your taxes if you need that form. Schedule A was not available as of a couple days ago either.
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This is outrageous.
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Totally ridiculous. It’s not like the IRS has anything else to be doing weeks after a once-in-a-generation overhaul of the tax code!
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We have just passed the last work day before the official opening day of tax season, and the all-important (for us moustachers) 8606 form has not been released!
The link @ the IRS website is the 2016 form:
https://www.irs.gov/pub/irs-pdf/f8606.pdf
There is however a draft one for 2017, which seems to be the same except for the year:
https://www.irs.gov/pub/irs-dft/f8606--dft.pdf
8606 is now updated for 2017. (Your link now goes to the 2017 version.) TurboTax help says it will be available on TurboTax on 2/15/2018.
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Yes, it was released, and in time for me to fill out the paper and mail it in (I was going abroad for a long time, and so needed to get that form, since the IRS does not allow a printed signature!) Interestingly, it was only a day or two after I complained about it to my curmudgeon senator. Perhaps I was the reason for this to go earlier than planned?
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I would be shocked if the wheels of government turned anywhere near that quickly.
You know you get two extra months if you are abroad on the filing deadline, right?
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I'm filing this year using free file fillable forms. Form 8606 is scheduled to be available on their website on Feb. 22. I've already set a reminder to finish up my taxes on that day. No biggie.
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I would be shocked if the wheels of government turned anywhere near that quickly.
You know you get two extra months if you are abroad on the filing deadline, right?
Yes, I know that I have until Oct 15 to file, but on my current schedule of traveling, I am typically away past that date.
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I'm filing this year using free file fillable forms. Form 8606 is scheduled to be available on their website on Feb. 22. I've already set a reminder to finish up my taxes on that day. No biggie.
I remember trying to use Free Fillable Forms once, but I seem to recall that it asked me to enter all the information from my 1099-R forms, which I saw absolutely no point in doing (at the time I was doing a staggered IRA rollover game to allow me to access Roth conversion basis before the 5-year seasoning date - and fortunately, I hit that 5-year date in 2015, which is when the IRS started to treat ALL IRAs as a single one with respect to the rollover rule). And it seems that I am always dealing with a recharacterization of a Roth that has gone down in value, which necessitates me including a letter explaining the Net Income Attributable loss (and as well the custodian's letter substantiating the calculation of that loss) - and I have always feared that somehow the Free Fillable Forms would not allow me a nice way to include this letter. Maybe I'll try it next year if my tax form is without issues like those.
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You know you get two extra months if you are abroad on the filing deadline, right?
Yes, I know that I have until Oct 15 to file, but on my current schedule of traveling, I am typically away past that date.
Sorry, maybe this wasn't totally clear. What I meant was: If you are outside the US on April 17th, your extension is not due until June 15th.
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You know you get two extra months if you are abroad on the filing deadline, right?
Yes, I know that I have until Oct 15 to file, but on my current schedule of traveling, I am typically away past that date.
Sorry, maybe this wasn't totally clear. What I meant was: If you are outside the US on April 17th, your extension is not due until June 15th.
Filing the extension is no problem; I can do that online. The problem is doing the tax form online (for me, at least). Of course, possibly I could just fill out the online form with what should be Line 22 as Line 21 Other Income, and write "Miscellaneous", and then do a proper amended return once I am back in the USA.
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Oh, so you’re outside of the US for months at a time - got it. (Me too.)