DanaB27
Expert Alumni

Get your taxes done using TurboTax

If only had deductible Traditional IRA contributions then you will not have a basis in the IRA. Only when you make nondeductible Traditional IRA contributions will you have a basis reported on Form 8606 part I.

 

Correct, since you only made deductible contributions you will say "No" to "Any nondeductible Contribution to your IRA?" and you do not get the screens to enter the basis and the value.

 

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