I have a traditional IRA with a basis that has been tracked by Form 8606 in TurboTax for years. Even though there are no RMD’s in 2020, and I made no withdrawals from the traditional IRA with a basis, Form 8906 calculates that my carried-over basis of $5,585 (Line 2) is reduced to $272 (Line 14). How can this be correct? How is $272 calculated? I did make withdrawals from other IRAs which have no basis during 2020 totaling $16,501. Can anyone explain the value $272 in Line 14?
