Your IRA contributions must be tracked by you. They are reported to you by the financial institution on a 5498 form each year that you make a contribution, but you must track the totals. Because the IRA basis applies to ALL IRA accounts of the same type of IRA, the financial institution cannot know about other accounts that you might have so they cannot track it for you.
If you use TurboTax every year and always transfer last years data then the totals that TurboTax has would be on the IRA information Worksheet.
**Disclaimer: This post is for discussion purposes only and is NOT tax advice. The author takes no responsibility for the accuracy of any information in this post.**
