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Form 8621 Turbotax

Form 8621 Turbotax

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Quick guide on how to complete form 8621 turbotax

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Video instructions and help with filling out and completing Form 8621 Turbotax

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Instructions and help about Form 8621 Turbotax

okay so for this video we want to talk about 401K rollover contributions into a traditional IRA so continuing with our example that we've gone through with all the previous videos we have our taxpayer here John Q taxpayer and so what we're going to look at now is what if John left a previous job and had a 401k plan with that employer and then rolled those assets into a traditional IRA how is all that reported in Turbo Tax so obviously we've got the fact pattern in front of us here that you're looking at and then we've also got the sample 1099rs we'll look at that and then the 5498 as well and then of course we have our Turbo Tax software here that we will actually walk through how to enter all this information so if we go back to the slide here just to cover some of the background again this is John taxpayer he had a previous job with a different sales company and he left in December 2021 so we started that new job January 2022. now with

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