Do I have to list the Fair Market Value as of 12/31/20 of my retirement on turbo tax for taxes.

[AmyC]

Probably. Each brokerage sends the IRS an end of year value for your accounts. The program only asks people for fair market value when needed based on your input. You may have selected to track your basis, in which case, it would not be necessary. Otherwise, yes, you should enter the value on December 31 for all accounts of that type.

I want to urge you to create a financial notebook that is kept separate from your tax return. Keep it safe and each year, add your year-end statements from all your financial accounts plus a copy of your W2’s, 5498, and 8606 forms.