On Form 8606 Line 14, it shows that my total basis in traditional IRAs for 2024 and previous years is $200. That's what I expected.
Then, I checked the IRA Information Worksheet TurboTax also generates, and it shows in Part 1 for Traditional IRA on line 3 that "Basis carryover as of 12/31/2024" is $0. Isn't that wrong? I would think this value should be $200 to match line 14 from Form 8606, not $0.
posted
last updated
February 01, 2025
9:31 PM