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New Member
posted Jan 25, 2023 8:28:56 PM

How enter a number for Line 2 on Form 8606?

We used turbotax for the first time last year and somehow this number came out as zero. Should be a lot more and we want to ensure the correct number is entered for Line 2 Form 8606 this year (tax year 2022).

0 2 499
2 Replies
Level 15
Jan 25, 2023 8:47:57 PM

if you click CONTINUE after putting in 1099-R, or a non-deductible contribution, TurbOTax will ask you for that value.

 

If you didn't do any such, you don't file Form 8606

@saari-usa-com 

Alumni
Jan 25, 2023 8:55:35 PM

Line 2 is your basis (non-deducitble contributions).

The 1099-R interview asks if you tracked your basis and how much it is.

 

Since you cannot skip a year then if not reported in 2021, you will first need to amend 2021 in order to get the remaining basis to be applied to 2022.    If you missed it then you might not have completed the interview after the 1099-R summary screen.