The year end value of your IRA is used on Form 8606 to calculate the taxable portion of an IRA distribution when there are nondeductible contributions in the account.
This is also the reason that the basis on your IRA account is tracked in the interview.
If you aren't taking IRA distributions, or if you have no nondeductible contribution to recover, skipping this entry will not impact your return.
**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"
