How do I enter prior year basis in form 8606, there seems to be no way to do that through the Q& A.

[DanaB27]

You have two options to enter your prior year basis from your last filed Form 8606 line 14.

In the IRA contribution interview:

1. Login to your TurboTax Account 
2. Click on "Search" on the top right and type “IRA contributions” 
3. Click on “Jump to IRA contributions"
4. Select “traditional IRA”
5. Answer “No” to “Is This a Repayment of a Retirement Distribution?”
6. Enter the amount you contributed
7. Answer “No” to the recharacterized question on the “Did You Change Your Mind?” screen
8. Answer the next questions until you get to “Any Nondeductible Contributions to Your IRA?” and select “Yes” if you had a nondeductible contribution before this tax year.
9. Enter your basis in the Traditional IRA from your last filed Form 8606 line 14

In the retirement section after you enter your Form 1099-R (make sure the the "IRA/ SEP/ SIMPLE" box is checked):

1. Login to your TurboTax Account 
2. Click on the Search box on the top and type “1099-R” 
3. Click on “Jump to 1099-R” and you should see the “Review your 1099-R info​​​​​​​” screen
4.  Click "continue" and continue through the questions.
5. Answer "yes" to "Any nondeductible Contributions to your IRA?" if you had any nondeductible contributions in prior years.
6. Answer the questions about the basis

[mathw-samuel]

The only option when I went through the interview was to enter a non-deductible portion for the year 2024.

It also didn't ask for my spouse whose entire 2024 contribution was non-deductible, and who also has a past basis in non-deductible contributions from before 2024.

Has the interview process been altered or fixed? This will be a recurring problem with TurboTax if you're not allowed to bring in past contributions, the 8606 amounts will always be wrong.

[DanaB27]

TurboTax is aware of the missing screen to enter the prior year basis, please see Why is my backdoor Roth IRA conversion being taxed? to sign up to be notified with any updates.

[mathw-samuel]

I went through the interview again, there's no place to enter the prior year 8606 amounts. The issue you linked to doesn't help me.

[CatinaT1]

Here is an FAQ where you can sign up for updates: Why am I unable to report my 2023 for 8606 basis?

[michinori-kaneko]

Is there any updates on this? it's been weeks since this FAQ was posted and I signed up for an update on this. 

[DanaB27]

We are still working on the issue. Please make sure you sign up for updates in the link CatinaT1 posted: Why am I unable to report my 2023 for 8606 basis?

@michinori-kaneko 

[mathw-samuel]

I'm now filing an amended return to fix the basis error in form 8606. The original return had no form 8606 for me (taxpayer) and an incorrect one for my spouse.

I'm now able to enter the prior (2023) basis for both of us. However, the amended return produced only has the 8606 form for my spouse. Mine is still missing.

Can you please take a look at this?

Thanks

Mathew

[DanaB27]

You can send us a “diagnostic” file that has your “numbers” but not your personal information. If you would like to do this, here are the instructions for TurboTax Online: 

1. From the left menu select Tax Tools. 
2. Then select Tools below Tax Tools. 
3. A window will pop up which says Tools Center.  
4. On this screen, select Share my file with Agent. 
5. You will see a message explaining what the diagnostic copy is. Click okay through this screen and then you will get a Token number. 
6. Reply to this thread with your Token number and add @DanaB27 . This will allow us to open a copy of your return without seeing any personal information.  

The instructions for TurboTax Download: 

1. On your menu bar at the very top, click "Online"
2. Select "Send Tax File to Agent"  
3. Click "Send"
4. The pop-up will have a token number
5. Reply to this thread with your Token number and add @DanaB27 . This will allow us to open a copy of your return without seeing any personal information.  

We will then be able to see exactly what you are seeing and we can determine what exactly is going on in your return and provide you with a resolution.

@mathw-samuel 

[mathw-samuel]

Ah, I think it was user error. Since I originally had made a fully deductible contribution an 8606 form wasn't generated; I didn't see where the amount would have been stored away, say for next year's return.

I changed the non-deductible amount to $1, and it correctly generated a 8606 form. I filed the amended return, and it was accepted.

Thanks

[michinori-kaneko]

am i able to send you a diagnostic file and you are able to ammend the returns? I have a large tax refund but i haven't been able to file it because of this issue and its already been a month since this issue was flagged. I'm losing interest income on the refund that could have been in my bank account.  @DanaB27 

[DanaB27]

No, we can only use diagnostic files to review returns to find a issues and help resolve them.

The issue about entering the prior year basis has been fixed.

Please see How do I amend my federal tax return for this year?

@michinori-kaneko 

[michinori-kaneko]

I see that it has! but funny that I signed up for email notification on update via that page you shared before but i didn't get any notifications from turbotax that the issue was resolved. I can assure you there are several others who have signed up for notifications that have not received any notifications and still waiting for the update. the last communication i got from Turbo Tax was on March 17th "We haven’t forgotten about Missing Interview question: unable to report 2023 Form 8606 information" stating the issue is still being worked on.