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Retirement tax questions
Hi, Dana.
Yes, there is a basis on my 2023 form 8606 Line 14 and yes, it was carried over into Line 2. Turbotax added line 1 (the new contribution) and Line 2 (the old basis). However, it then failed to enter anything in Line 8 to reflect the fact that there was a Roth Conversion and the basis should be reduced by that amount.
There is no * in line 13. Line 13 is empty. (There is an x in Line 10, which I don't understand either, but I figured that was relating to the math supposedly done on Line 10).
Any further thoughts? Thanks!
‎February 7, 2025
10:25 AM