DianeW777
Expert Alumni

Retirement tax questions

Yes, you are correct.  $202 is the cost basis for your IRA and it must be entered when you are asked about your Traditional IRA basis from 2022.  Line 14, Form 8606 is the correct cost basis that you must carry forward to 2023.  When you review your Form 8606, make sure it has the correct number on Line 2.

@Anonymous50 

 

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