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Retirement tax questions
I had another phone call with TurboTax Live.
Because you ( @macuser_22 ) helped me figure out that 2020 Form 8606 Line 2 should equal 2019 Form 8606 Line 14, I was finally able to get the problem figured out. On the page where I entered my cost basis from my 2019 Form 8606, there is a button on the bottom called "Easy Guide".
I had checked a wrong button in this menu and it resulted in a blank that had 5005 typed into it, this resulted in the $995 number that was showing up on Line 2 of my 2020 Form 8606. ($6000-$5005). Once we got that blank changed to zero, my taxable portion changed to $19! Whew.
Thank you so much @macuser_22!
March 30, 2021
10:19 AM