On my 2021 Form 8606, when asked to enter my IRA basis, I am entering the same number that was calculated on my 2020 Form 8606. However, TurboTax is saying the numbers don't match and is making me provide an explanation of the IRA basis change. What gives?
Your starting basis for 2021 should be the same as your ending basis for 2020, which is on your 2020 form 8606, line 14.
This is exactly what I'm entering, but TurboTax thinks there has been a change and is forcing me to provide an explanation. There has been no chance -- I am entering the number exactly as you described. What gives?
@Anonymous wrote:
This is exactly what I'm entering, but TurboTax thinks there has been a change and is forcing me to provide an explanation. There has been no chance -- I am entering the number exactly as you described. What gives?
We can't see your return. You may want to contact customer support, they can do a screen share and look at your file.
https://support.turbotax.intuit.com/contact/
Is is possible you made changes to your tax file in the online system after filing? Such as to test a scenario? That would change the contents of your tax file to be different from what you filed.