Am confused about Form 8606 and I'd like to get clear. Everything here relates to traditional IRAs. In several of the last ten years TurboTax has generated a Form 8606 for us (married filing jointly) because I have been contributing to my IRA with varying success at earning deductions. Each of those forms seems to have just the "Total basis" for that tax year (which I guess means the non-deductible part). This past tax year (2018) my wife joined me in contributing to her trad IRA for the first time, but the 8606 only showed my non-deductible portion (all). I'm sure all of her contribution was also non-deductible.
1) Unless I misunderstand, shouldn't the Form 8606 be accumulating all our past years' amounts into one current amount?
2) Or do I have to keep track of the amount every year myself for reference when I start to withdraw?
3) How...or will I be prompted for my Form 8606 info when I begin to withdraw?
4) Do I need to amend or re-file my most recent 8606 for 2018 to reflect our total non-deductible contribution amount?
(FYI, after years of using Deluxe, this year I finally gave up trying to figure out the Deluxe functionality and started using Home and Business.)
Thanks! Sorry for length...
