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Retirement tax questions
TurboTax needs to fix this!!
My husband had been making contributions to his nondeductible IRA until 2014. In 2015, when he turned 70.5 years old, he started taking RMDs but they were always Qualified Charitable Distributions. So, the cost basis (which is post-tax $) should not change year to year. 2020 is the first year that he could again contribute to his nondeductible IRA. Now, I notice that TurboTax has been slowly whittling away his cost basis! I'll over-ride it as suggested. BUT TurboTax should fix the glitch!
May 16, 2021
2:59 PM