I'm doing an IRA to Roth conversion and somehow TurboTax already has a basis (deductible amounts) for my IRA. I'm not sure where it's coming from. I did an electronic import of my Vanguard 1099-R to TurboTax. It doesn't have any IRA basis information on the 1099-R form, but is Vanguard providing this to TurboTax separately (electronically but not showing in the 1099-R form)?
TurboTax is generating an IRA Information Worksheet for line 2 of 8606. There are several amounts on here that I never entered this year. Line 12 has a basis and line 14 is showing rollover amounts. The rollover amounts seem to be the amounts of 401k rollovers I did. But I never entered these in.
I've been using TurboTax for the last 5 years but my basis information goes back the past 20 years.
I'm trying to figure out if the IRA basis that TurboTax is presenting is correct. If it is getting it from Vanguard, then I assume it is. Does the electronic import provide more information than is on the 1099-R? if not, how is Vanguard figuring out my basis?
