- Mark as New
- Bookmark
- Subscribe
- Subscribe to RSS Feed
- Permalink
- Report Inappropriate Content
Get your taxes done using TurboTax
Thanks DanaB27.
I entered the 2021 1099-R as you suggested and when it asked for IRA basis for 2020 from form 8606, I entered 4093.
Then I entered '0' as the value of the traditional IRA outstanding at the end of 2020.
It calculated a taxable amount of 3388 for this year. And I hope from next year I would be clean i.e. no more basis, just new contribution.
Is all of the above is correct?
Thanks so much for your help.
March 15, 2022
6:45 PM