dmertz
Level 15

Retirement tax questions

Basis at the end of 2024 was $8,000, not $8,013, but MindyB is correct that there was no IRA distribution in 2024 that would have added any taxable income on your 2024 tax return.

 

The $8,000 of basis on line 14 of the 2024 Form 8606 that you must file will transfer to line 2 of your 2025 Form 8606.  Unless you transfer in your amended 2024 TurboTax tax file to begin your 2025 tax return, you'll need to correct your basis in 2025 TurboTax in the pages that follow clicking the Continue button on the page that lists the Form 1099-R that you have entered.