TurboTx asks for market value of tax deferred IRAs. Do I include FMV as reported by insurance co of 2017 IRA immediate annuity? At 73 it won’t be part of RMD calculation.

[AmyC]

Probably. My guess is that you are filling out the Form 8606 with your tax return which tracks your basis in various retirement accounts.  For purposes of Form 8606, a traditional IRA is an individual retirement account or an individual retirement annuity other than a traditional SIMPLE, Roth, Roth SEP, or Roth SIMPLE IRA.  

The IRS is aware of your money and its location, the Form 8606 is for you to keep up with your basis and potentially lower tax liability. Investment companies send the IRS your balance on December 31 each year. 

[dmertz]

Yes, it must be included.  TurboTax is asking for the the FMV either in cause it's needed for populating line 6 of Form 8606 or if it needs to determine the penalty for an excess traditional IRA contribution, not for anything to do with RMDS.