Yes, the contribution of $8000 is entered in Line 1 of both forms.
I am talking about Line 6 of Form 8606, which is the same as Turbotax Taxable IRA distribution worksheet Line 4. For Line 6, this is what IRS instruction says: "Enter the total value of all your traditional, traditional SEP, and traditional SIMPLE IRAs as of December 31, 2024, plus any outstanding rollovers. A statement should be sent to you by January 31, 2025, showing the value of each IRA on December 31, 2024." It does NOT say including the 2025 IRA contribution for 2024. Is this correct?
