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Deductions & credits
@macuser_22 , perhaps I see the problem that cfcan is talking about. When you have no basis carried in from the previous year and made a nondeductible contribution in the current year, if you indicate that you converted any amount to Roth, TurboTax asks for your year-end balance. However, under these same circumstances if you simply say that you cashed out the entire distribution, TurboTax fails to ask for the year-end balance and completes Form 8606 incorrectly.
March 17, 2021
5:42 AM