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Retirement tax questions
Hi, thanks for quickly replying, but my situation is different from the one you state, and I know that TurboTax can fix it because they did last year. For some reason, though, it is happening again this year. `I should have made it clear in my previous message that I only have one Form 8606; it is for my Traditional IRA, and yes, that has basis because I made some nondeductible contributions. I do not need a Form 8606 for my inherited IRA because it did not have any nondeductible contributions, so it does not have basis. My RMDs for that IRA are fully taxable. The bug in TurboTax is that it is putting my inherited IRA RMD amount on line 7 of my Traditional IRA's Form 8606. I have used TurboTax for many, many years, and last year was the first time that this error occurred. I was just one of a number of TurboTax users to report this bug last year; fortunately, it was fixed in time for me to electronically file my taxes last year. Thanks very much for your continued assistance. I am grateful for your attention.