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Level 3
posted Feb 25, 2026 8:54:04 AM

Delete

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1 Replies
Employee Tax Expert
Feb 25, 2026 12:51:28 PM

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.