If you enter your basis and value of your traditional IRA during the 1099-R section interview and trigger Form 8606 then TurboTax will automatically calculate the taxable amount and enters this on line 4b of Form 1040.
- Click on "Search" on the top right and type “1099-R”
- Click on “Jump to 1099-R”
- Click "Continue" and enter the information from your 1099-R
- On the "Your 1099-R Entries" screen click "continue"
- Answer "yes" to "Any nondeductible Contribution to your IRA?"
- Answer the questions about the basis and value
If you enter it directly into Forms then you will still need to enter your 1099R on the 1099R Form. TurboTax will carry the information to Form 1040.
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