What is the data source or calculation method for the traditional IRA basis carryover value on line 3 of Part 1 of the IRA Info Wks?
The value calculated by TurboTax changes when the total value of all IRA is modified. I don't understand why.
01452
1 Best answer
dmertz
Level 15
Feb 22, 2024 1:23:56 PM
The calculation is done on Part I of Form 8606. The basis carryover changes because changes in the year-end value of your traditional IRAs changes the amount of basis that is applied to your 2023 traditional IRA distributions and Roth conversions.
1 Replies
dmertz
Level 15
Feb 22, 2024 1:23:56 PM
The calculation is done on Part I of Form 8606. The basis carryover changes because changes in the year-end value of your traditional IRAs changes the amount of basis that is applied to your 2023 traditional IRA distributions and Roth conversions.