This solution worked for me with one big exception. I entered the total value of my traditional IRAs and TurboTax changed it to zero, so my tax liability was calculated incorrectly, and I had to file an amended return.
To fix it, I first went to the Forms option, Form 8606, line 6, and attempted to enter the combined value of all my IRAs as of December 31, 2024, and was initially unable to. I found out that this was because last year I had "Supporting Information" for this field with separate totals for my (then) 3 IRAs. This year the amounts are zeroed out and this overrides any number I enter in Step-by-Step - it did this several times.
I deleted the Supporting Information and entered the value for the one IRA I have now and was able to calculate my taxes correctly. It turns out that I owe $1400 MORE than TurboTax said on my original return.
This is the second problem I have had with Supporting Information from a prior year, so I looked for this. A similar issue prevented me from entering my SSA-1099 information. Maybe we all need to avoid using Supporting Information!
