Question
Total Basis in traditional IRA
Last year I converted some IRA accounts to Roth IRAs. All 1099-R forms had the same amounts in box 1 and box 2a (taxable amount).
I found that TurboTax filled in form 8606 and entered $2400 in Line 2 (total basis in traditional IRA), which was then used to reduce the Gross distribution. Form 1040 now shows line 4b lower than 4a by $2400.
We are both retired and not working and we are not contributing to any IRA.
Where does the Line 2 entry come from?
Do I need to delete form 8606?
Thanks for any suggestions.
