- Mark as New
- Bookmark
- Subscribe
- Subscribe to RSS Feed
- Permalink
- Report Inappropriate Content
Get your taxes done using TurboTax
You will need to enter your basis from your 2021 Form 8606 line 14 ($5,500). Please review the instructions above you can enter the prior year basis either when you enter the IRA contribution (steps 8 and 9) or after you enter Form 1099-R (steps 6 and 7).
You should have reported the nondeductible traditional IRA contribution for 2021 on your 2021 return and have a 2021 Form 8606 with the basis on line 14.
**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"
**Mark the post that answers your question by clicking on "Mark as Best Answer"
March 24, 2023
8:01 AM