Why, considering the following, was my IRA Basis reduced by Turbo Tax in 2020 by $4050, as shown in our 2020 tax forms on Part 1 line 3 of the IRA Information Work Sheet?
I paid no federal tax in 2020. My total tax on line 24 of form 1040-SR was $0.
No form 8606 was generated by TurboTax.
I made a Qualified Charitable Contribution from my IRA of $4050.
The abbreviation STMT was added to line 4a of form 1040-SR.
$4,050 – QCD appears in the section ADDITIONAL INFORMATION FROM YOUR 2020 FEDERAL TAX RETURN at the end of Schedule D form 1040, but not on line 4b of form 1040-SR.
I withdrew other funds from my IRA but returned them as a rollover in the appropriate amount of time.
Line 4a of 1040-SR is the sum of the funds I replaced as a rollover to our IRA’s (3510.75 + 15033.46) plus the QCD (4050) I made from my IRA.
Line 4b of from 1040-SR is $0.
