My husband and I both have traditional IRA’s. We both made mandatory withdrawals in 2024. I made after tax contributions to my IRA for many years. My husband did not. I filed form 8606 each year to report my contributions. I know I need to file form 8606 to report my withdrawal and figure the taxable portion. I assume I only report the 12/31 value of my IRA’s on my form 8606. However, on a joint return, do I report the 12/31 value of my husband’s IRA anywhere?
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1 Replies
DanaB27
Employee Tax Expert
Feb 22, 2025 7:57:02 AM
No, if your husband doesn't have a basis and isn't required to file Form 8606 then he doesn't need to enter the value of his IRAs on 12/31 anywhere in TurboTax.
Yes, you will report the 12/31 value of your IRA’s on your Form 8606.