TurboTax is asking for the value of the IRA for tracking purposes. It will follow every year what is going on with the IRA. It can also inform you of Excess contributions in the future.
TurboTax asks for the value of your IRA in anticipation of needing to prepare Form 8606 if Form 8606 is required to be included with your tax return.
You will not be taxed double for that question. Only the amount of distribution will be taxed
**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"
