Along with many other users, I have been baffled that TTax keeps failing to track the basis of a Tradition IRA from year to year. After reading the thread https://ttlc.intuit.com/community/retirement/discussion/form-8606-non-deductible-ira-tracking/00/775..., I understand that the problem arises from the wording of one of the interview questions that has led many to answer it “No” incorrectly. TTax asks for each 1099-R whether “you made any nondeductible traditional IRA contributions” to the account. At least some of us with basis tracking problems assumed this question refers events in the tax year being reported. (Others might not recognize that “nondeductible” contributions are contributions of funds already taxed.) This question should have been phrased “Have you EVER made (OR ROLLED OVER) nondeductible (AFTER-TAX) contributions to this IRA.” Do others agree that this is the meaning of the question currently asked by TTax?
However, now while in the “Your 1099-R Entries” page when I try to edit the information for my Traditional IRA that has a basis, the nondeductible contributions question is no longer among those asked. I also tried adding a new 1099-R with that IRAs information but a slightly different title (expecting to then delete the older version), but the contributions question wasn’t asked.
How can I correct the answer to the question that TTax no longer is asking, either in the dialog or forms mode of the program? I am using the Deluxe version for 2019 on a CD purchased from Costco.
