To TurboTax
Hi DanaB27, I have sent my return back to you for analysis of this issue:
TOKEN #: 174436519-82728873 @DanaB27
Agree with you analysis and that is how I understand your program is working.
That said please respond to your statement:
“However, you must also make sure that you have entered your 2024 year-end balance in traditional IRAs for the calculation on Form 8606 to be performed correctly, otherwise the result will be an incorrectly high nontaxable amount due to TurboTax incorrectly assuming that your 2024 year-end balance in traditional IRAs was zero.”
Where do I enter the year-end balance in traditional IRA’s? I see no place to enter the amount.
Note: I have made no contributions since 2013 and have had no distributions. Yes, Turbo Tax had been carrying my basis in past years.
Again, I repeat myself, any place that it ask for the basis to be entered it calculates a refund (Step by Step, Turbo Tax Worksheet, Form 8606, repeat on Amend Return also). Nothing works.
Is there another form for a First Time Turbo Tax user to establish his basis in your program? How would they do it? Based on what I have experience with Turbo Tax they could not.
Please let me know where specifically I can enter the basis without running a refund calculation would resolve this issue.
Thank you for your continued assistance looking into this matter.
