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After you file
Please be aware that TurboTax sometimes uses the Taxable IRA Distribution Worksheet to calculate the nontaxable distribution on line 13 of Form 8606 (indicated by *). In this case, lines 6 - 8 will be blank.
It seems when amended the return you deleted your prior year basis since line 2 on Form 8606 is empty. You can enter it with the steps below (see steps 6 and 7):
- Click on "Search" on the top right and type “1099-R”
- Click on “Jump to 1099-R”
- Click "Continue" and enter the information from your 1099-R
- Continue through the questions
- On the "Review your 1099-R info" screen click "Continue"
- Answer "yes" to "Any nondeductible Contributions to your IRA?" if you had any nondeductible contributions in prior years.
- Answer the questions about the basis from line 14 of your 2021 Form 8606 and the value of all traditional, SEP, and SIMPLE IRAs
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March 1, 2023
1:01 PM