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Retirement tax questions
TurboTax follows the IRS instructions that say to include Form 8606 only when there is something new to report. No Form 8606 is to be included in your tax return if it only shows your carryover basis on line 2 and the same amount on line 14.
On the IRA Information Worksheet TurboTax does continue to carry forward your basis. However, if you ever mistakenly answer No to the question that asks if you made nondeductible traditional IRA contributions, TurboTax will silently delete this information from this worksheet. This is the real problem that TurboTax Product Quality should address, but they have elected to do nothing about this.
‎April 3, 2022
5:11 AM