@macuser_22, again thanks for your reply. It’s a relief that you believe TurboTax and I are both without error in this matter (even though I understand your belief isn’t tax advice). I have two follow up questions I request that you consider:
- Form 8606 Question
Since I usually give at least all of my aggregate RMD to QCDs, does TTax continue to propagate the unchanged basis of that IRA that has basis from one year to the next, or must I use its Forms mode to manually enter data into the IRA Information Worksheet (so it will transfer the basis to Form 8606) for the basis to be carried forward?
- TurboTax Internal Calculation Question
If one has multiple IRAs with one containing a mixture of pre- and post-tax contributions, and he withdraws the necessary aggregate RMD from the IRAs without basis, but doesn’t give any or all of the RMD to QCDs, don’t IRS rules require that the basis of the untouched IRA be reduced using its pro rata formula? That is my understanding of https://www08.wellsfargomedia.com/assets/pdf/personal/investing/retirement/taxes-and-retirement/pro-....
If my understanding of this tax rule is correct, does TurboTax make the required adjustment to the aggregate IRA bases, even though there was no withdrawal from the IRA that contained post-tax contributions?
