- Mark as New
- Bookmark
- Subscribe
- Subscribe to RSS Feed
- Permalink
- Report Inappropriate Content
Get your taxes done using TurboTax
If you know the correct basis (nondeductible contributions) from your traditional IRA from your 2020 tax return then you get can enter this when TurboTax asks about your basis prior to 2021.
For example, you contributed $5,000 to the Roth but recharacterized the $5,000 to traditional and made them nondeductible (or they were automatically nondeductible because you had a retirement plan and your income). And you didn't make any other traditional IRA contributions. Then you can enter $5,000 as the basis from prior years when preparing your 2021 tax return.
But please verify from your 2020 tax return copy that you hopefully saved on your computer or printed out, that you reported the recharacterization correctly and that your tax return included Form 8606.
If you do need to amend your 2020 tax return and need another copy of the software then please contact TurboTax customer service what can be done: What is the TurboTax phone number?
**Mark the post that answers your question by clicking on "Mark as Best Answer"