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Deductions & credits
Your basis in nondeductible contributions applies to your traditional IRAs in aggregate, not to any particular one of your traditional IRA accounts. The tax code requires that all of the traditional IRAs that you own be treated together as if they were one large single IRA, so the TurboTax's calculations on Form 8606 combining your two IRA accounts is correct.
‎January 26, 2021
4:25 PM
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