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user17
Level 3
Feb 25, 2026 4:54 PM UTC
Question

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    1 reply

    ReneV4
    Level 8
    Feb 25, 2026 8:51 PM UTC

    It appears that a piece of information is missing, in that you will need to input your Traditional IRA contribution of $7,000.

     

    1. Go to Deductions & Credits to input the contribution first
    2. Next, go to Wages & Income to input your Form 1099-R
    3. When you reach, Any nondeductible contributions to your IRA?, answer Yes
    4. Enter prior year basis (2.00)
    5. Next, enter the value of all of your Traditional/SEP/SIMPLE IRAs on December 31, 2025. If you emptied the account for the conversion, enter 0

     

    Doing the above will combine your new basis with our old basis, bringing your taxable amount down to 0.

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