Thank You!
TurboTax carried over a zero basis to my 2021 return. Before receiving your latest reply, I double checked my 2019 and 2020 8606 forms, following the 8606 instructions, and everything seems correct, as you state.
I also looked at the carryover worksheets that I printed for our records from our 2019 and 2020 returns. The 2019 carryover amount shows $7000, but the 2020 carryover worksheet shows zero. I think this is where the problem is. Maybe TurboTax dumped the carryover amount somehow? The way I understand it, it should be $7000, from line 14 on the 2020 form 8606.
When I input the $7000 carryover manually, TurboTax says it doesn’t match the zero amount the program carried over, and asks for an explanation. I put in the explanation that the correct amount of $7000 was not properly transferred in TurboTax. I have read some other threads that indicate this may be an issue with the software?
My last question is, will this flag anything with the IRS? Entering it this way increases my refund by $2260, so I am happy to have caught this error, but I don’t want it to trigger an audit. We always pay for audit defense, but never want to have to use it.
Thanks for all of the help with this issue!
