If this is your first year filing the form 8606, you would have no previous basis. Once you file 8606, you will file it every year. Each year, you add any new basis to the original. Since you are filing 2021, only basis for 2021 and prior years would be used. When you do 2022, you will use 2021 and add any new basis.
Otherwise, use the Total Basis Chart to find the amount to enter on line 2.
However, you may need to enter an amount that is more than -0- (even if this is the first year you are required to file Form 8606) or increase or decrease the amount from the chart if your basis changed because of any of the following.
You had a return of excess traditional IRA contributions (see Return of Excess Traditional IRA Contributions, earlier).
Incident to divorce, you transferred or received part or all of a traditional, SEP, or SIMPLE IRA (see the last bulleted item under Line 7, later).
You rolled over any nontaxable portion of your qualified retirement plan to a traditional, SEP, or SIMPLE IRA that wasn’t previously reported on Form 8606, line 2. Include the nontaxable portion on line 2.
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