Please be aware, there are two different value questions:
- One is during the IRA contribution interview if you have an excess contribution and it will say to include contribution made in 2023 for 2022. This will be used for Form 5329 to calculate the penalty. Here you need to use the value on December 31, 2022, plus any contributions you made in 2023 for 2022.
- The other one is in the retirement section and is used to calculate the nontaxable portion on Form 8606. Here you only use the value on December 31, 2022.
Generally, you can find the value on your end-of-the-year statement. If you have a balance left in the account then you cannot enter $0.
@blevealeve
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