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Retirement tax questions
Filing a Form 8606 for no other reason than to show on lines 2 and 14 your existing basis from prior years is extraneous. The IRS wants your tax return to include Form 8606 only if you have a 2024 transaction that is required to to be reported on Form 8606. TurboTax still tracks your basis on the IRA Information Worksheet for your own recordkeeping and for use on a future Form 8606 when you do have a requirement to file this form.
March 15, 2025
7:26 PM