Truly appreciate your response dmertz,
I ended up printing out Form 8606 for my wife, and manually calculated the lines this afternoon, so I can understand a bit better what I am dealing with as well. My manual calculations for lines 16, 17, and 18 are matching what you are showing below. Have different values in TurboTax (TT) as to the way I have all this setup though. That is part of my confusion as to how to get TT to calculate correctly. I know that line 2 on the 8606 needs to show 7K (showing that actually in TurboTax) as there is a question that talks about basis. I used HR Block last year including form 8606 with that Line 14 showing 7K, but switched to TT as it more robust - using Premier version.
Can you please provide what is the expectation on line 4b of the 1040 again? Will that be 7.5K, right?
I will scratch what I have now and delete some forms in TT and give this a new whirl first thing tomorrow morning. I will report back, but I am thinking that we should be getting closer. This is the last piece that we need indeed.
Your advise and follow ups are great. Thanks a lot!
Best regards,
Ozzie
