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Thanks for responding.

              YOUR QUESTION                                                                  MY RESPONSE

Have not contributed to Traditional IRA since 2013:              Correct

 

Have you been filing 8606 Annually:                                   Assumption that Turbo Tax had continued to file.                                                                                                                They had in past versions but it appears to have                                                                                                                 been dropped from filing.

 

                                                                                                Also note that my wife’s basis had continued to track,                                                                                                      but when I did a manual re-install software requested                                                                                                       my wife’s basis dropped off and went to zero.  Same                                                                                                        issue trying to re-enter her basis again.

 

Was there an 8606 in 2023:                                                 Looking back I did not see one.

 

The Worksheet/are you using the interview

steps under Deductions & Credits section

in EasyStep for "Traditional and Roth IRA

Contributions" which will ask for prior year basis.:            Yes, using step by step.

 

Traditional and Roth IRA ask for prior year basis:               Yes, answered and filled in box with Basis. This is                                                                                                                when the calculation runs and increases my refund                                                                                           

Did I have a distribution or conversion:                               No, distribution or conversion.  A conversion                                                                                                                      occurred back in 1998, Turbo tax was tracking basis                                                                                                        correctly well after that.

 

 

If changing the basis impacted your taxes then

think it's recalculating a distribution based on the

updated basis

(which would reduce taxable amount on that

Distribution and increase your refund):                        Agree with your assumption that the program is                                                                                                              recalculating a distribution.

 

If not are you just trying to file 8606 with your

basis that didn't change in 2024?:                               Yes that is correct, my basis has not changed since 2013,                                                                                                 Just trying input my basis for Turbo Tax to track.

                                                                                   

What version of TT are you using

- desktop (win or Mac?), or online?:                            Version 024.000.0339. Using Win 11.  Note, have                                                                                                            updated to latest version of Turbo Tax, also Help desk                                                                                                     re-install the latest version manually.

 

Please let me know if you have any additional questions.

Thanks for you quick response to this request.