gabsk8r
Returning Member

After you file

Thanks again.

 

I'm on step (9) of you answer and wondering why the basis in the Traditional IRA from my 2021 Form 8606 line 14 is $6,000.

 

On "Let's Find Your IRA Basis", TurboTax asks me to input my "Total Basis as of December 31, 2021." At that point, it was just the $5K. I made the $6K contribution in 2022, albeit for the 2021 tax year—but if that's to be included, wouldn't my basis be $11K?

 

In short: I can see why my basis for 2021 would be $5K or $11K, but not $6K.

 

Please let me know if I'm missing anything—and thanks again.