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New Member
posted Feb 22, 2024 6:30:31 AM

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.

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1 Best answer
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
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.