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Get your taxes done using TurboTax
Are these instructions for Turbo Tax Live or Desktop? I do not see the Tax Tools options at all on my desktop version. I didn't get a chance to try your inputs today, but I will try again tomorrow.
I was able to go into forms and then located the IRA Contributions Worksheet, then manually edited the contribution to 0. That actually reduced my IRA Basis back to what it was originally from 2020 and finally my 8606 is showing 0 as my remaining IRA basis.
Another question I have is, does the backdoor Roth increase the basis in my Roth IRA by the amount of the conversion? Currently TurboTax is not doing that.
Thanks again.
March 23, 2022
9:08 PM