8606 Entries

Forum|Forum|6 years ago
February 6, 2020
1 reply
15 views

Every year I need to put in a IRA Cost Basis. The directions say it comes from the previous year's 8606, line 14. Every year I input that number, and it's always wrong. Why won't Turbo Tax import that number from the previous year's return.

What am I missing here?

Technical Help

linaj20201

Level 14

Are the numbers on the Form 8606 correct? You can try to remove the Form 8606 and re-enter the information again.

If you have not filed, to remove the form, here are the steps:

Sign in to your account, select Pick up where you left off
To your left, Select Tax Tools/drop-down menu
Select Tools
Under Other helpful links, choose to Delete a form
Select Delete next to Form 8606 and Continue with My Return to proceed

To re-enter the information, follow these steps:

Open up your program if you have not done so
To the right upper corner, in the search box, type in "8606" and Enter
Select Jump to 8606, nondeductible ira contributions
Follow prompts

fanfare

Level 15

don't file form 8606 with the same basis each year, it's not necessary.

Only file if your basis changes.

8606 Entries

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