Alison13
Returning Member

Incorrect Basis on IRA contributions

Here is my timeline on IRA (post tax) contributions: 

2022: contributed 725, basis 725

2023: contributed 1675, basis 2400

2024: contributed 2800, basis 5200

2025: contributed 3700, basis 8900. 

TurboTax identifying a taxable amount of 2400.  

When TurboTax asks my total basis at the end of 2024 I entered 5200. 

Why am I getting 2400 as taxable and how can I fix it? Is it possible it’s only “seeing” 2024 and 2025 basis?