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Level 1

Solved

Form 8606, Line 6

Forum|Forum|4 years ago
January 27, 2022
2 replies
21 views

I’m working on Form 8606.

I was able to get the basis entered for Line 2.

However, I was not able to figure-out how to enter the data for Line 6, value of IRA as of December 31, 2021.

Any suggestions??

Best answer by Mike9241

there is a screen to enter basis.

when you click continue it should take you to a screen to enter the year market values

if you right click on the box for the value you can enter detail if you want such as if you have multiple a/c s

Level 15

Your bank or financial institution that manages your IRA should be issuing you form 5498 for 2021. That form will show any contributions you made as well as the balance of your IRA as of December 31st. If you haven't received it already (it's informational and not required in order to file your return.) you should be able to contact whoever manages your IRA and get a copy online.

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Answer

Level 15

there is a screen to enter basis.

when you click continue it should take you to a screen to enter the year market values

if you right click on the box for the value you can enter detail if you want such as if you have multiple a/c s

Mike9241