8606 Line 2 / Line 14 Partial Roth Conversion

Forum|Forum|2 years ago
October 28, 2023
9 replies
64 views

The 8606 for my 2022 return does not reflect an basis on line 2 and 8606 for my 2021 return indicates an amount on line 14. I made a partial Roth conversion from a Traditional IRA in 2022.

Should the amount on Line 14 from 2021 be entered as the basis on Line 2 of the 2022 form 8606?

Thanks in advance for any replies

fanfare

Level 15

"Should the amount on Line 14 from 2021 be entered as the basis on Line 2 of the 2022 form 8606?"

You have to do that.

@scottbfreeman

scottbfreemanAuthor

Level 4

Thanks. Is there a reason that TurboTax 2022 does not carry this forward when importing information from the 2021 tax file?

dmertz

Level 15

TurboTax does carry this information forward on the IRA Information Worksheet, but it's all to easy to cause TurboTax to silently delete this information after transferring in from the previous year's tax file. All it takes is mistakenly answering No when TurboTax asks if you made nondeductible contributions for a prior year and TurboTax will remove the information without any indication to the user that it has done so. If that happens, you must add it back manually or start your tax return over completely and transfer in again.