@fanfare, I didn't fill out form 8606 carefully enough before my previous post. After corrections, Line 5 is $5,585, Line 7 is $5,313, Line 10 is 0.016991, and Line 13 shows a $90 reduction in basis, so that Line 14 is $5,495. Line 15c is $5,223.
However, after going through the TurboTax step-by-step again, correcting answering the RMD questions to reflect that none was required in 2020, in TurboTax's Form 8606, Line 2, 3, 14 are all $5,585, and 15b and 15c are zero. Line 15c is correct because the amount withdrawn (Line 7) went to QCDs.
I have two questions:
1) Are the differences between TurboTax's and my manual Form 8606 values the sole result of TurboTax having been told that the withdrawals went to QDCs? Form 8606 doesn't have a line to indicate that.
The statement on p. 14 of Pub 590-B, "If your IRA includes nondeductible contributions, the distribution is first considered to be paid out of otherwise taxable income," is the last sentence under the heading Qualified charitable distributions. 2) Is that the only situation wherein withdrawals from traditional IRAs with basis do not reduce the basis?
