n-mo
New Member

Retirement tax questions

Yes, after all the hurricane/disaster questions ("no"), I answered "Yes, I made and tracked nondeductible contributions to my IRA," entered my Total Basis as of December 31, 2017, then entered the "Value of your Traditional, SEP, and SIMPLE IRAs on December 31, 2018" ($0). Whether I enter $5,500 or $0 as my Total Basis, it does not have an effect on my taxable distribution. I do not believe this is correct.