https://ttlc.intuit.com/community/tax-credits-deductions/discussion/re-basis-value-question/01/968824#M109679 <P>If you will review the form 8606 you will see that you do not get to take all of the basis in one tax year ... it MUST be prorated until all your traditional IRAs are depleted.</P> Mon, 23 Dec 2019 15:08:27 GMT Critter 2019-12-23T15:08:27Z https://ttlc.intuit.com/community/tax-credits-deductions/discussion/basis-value-question/01/968815#M109678 <P>I have a traditional IRA. The value amount is $100,000. but in previous years I did not defer 4000. This year I entered the 4000. basis and it gave me a return of 1500. but when it ask me to enter my total IRA value as of</P><P>12-31-19 I entered 96000. It takes away some of my refund. Am I doing this right or should I enter 0 as I have no more basis to report in the future?</P> Mon, 23 Dec 2019 14:44:23 GMT https://ttlc.intuit.com/community/tax-credits-deductions/discussion/basis-value-question/01/968815#M109678 toolman1995 2019-12-23T14:44:23Z https://ttlc.intuit.com/community/tax-credits-deductions/discussion/re-basis-value-question/01/968824#M109679 <P>If you will review the form 8606 you will see that you do not get to take all of the basis in one tax year ... it MUST be prorated until all your traditional IRAs are depleted.</P> Mon, 23 Dec 2019 15:08:27 GMT https://ttlc.intuit.com/community/tax-credits-deductions/discussion/re-basis-value-question/01/968824#M109679 Critter 2019-12-23T15:08:27Z