First. an RMD has nothing to do with a IRA distribution.
Second, The "basis" (or prior year after-tax contributors) is asked for in the interview. That amount is the line 14 amount from the last filed 8606 form. You do not "calculate" the basis. The basis is whatever the last filed 8606 line 14 amount was.
The year end value that the interview asks for is the 2017 year end value of all existing Traditional. SEP or SIMPLE IRA accounts that existed on December 31 2017.
If you did not take a 2016 distribution because you turned 70 1/2 in 2016 and deferred the first RMD to 2017 and took both RMD's in 2017 then that only means that the 1099-R distribution reflects the total of both years RMD amounts. The calculations on the 8606 form lines 6-15 will reflect the carryover basis on line 2, the total 2017 years end value on line 6 , the distribution amount on line 7, and the tax calculations on lines 6-15.
What do you think is not correct?
**Disclaimer: This post is for discussion purposes only and is NOT tax advice. The author takes no responsibility for the accuracy of any information in this post.**
