This is my first year taking RMD's. I have a $13,770 basis documented on my last Form 8606 for nondeductible IRA contributions I made through 2007.
After I enter this into TT, I'm then asked to list my total 2025 EOY amount for all IRA's.
This is a significant amount...
After I make these entries my tax goes UP not DOWN by several thousand dollars.
Since I already paid taxes on $13,770 shouldn't that DECREASE my tax bill?
What am I missing/doing wrong?
