Basis value question

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

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?

posted

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.