Form 8606

[utterbob]

I made a small RMD in December 2020. When entering the Form 1099R info, TurboTax does not ask for the total value of my IRAs as of 12/31/2020 so that the new basis for 2021 can be calculated on Form 8606?

[Mike9241]

TT says today

https://care-cdn.prodsupportsite.a.intuit.com/forms-availability/turbotax_fed_windows_individual.htm... 

[LinaJ2020]

If the program does not ask, you can go directly to the Form 8606 section by following these steps:

In TurboTax online,

• Sign in to your account and select Pick up where you left off in your tax return.
• From the upper right menu, select Search and type in 1099r and Enter
• Select the Jump to 1099r
• Follow prompts
• On screen, Any Nondeductible Contributions to Taxpayer's IRA?, select Yes
• Next screen, Let's Find Your IRA Basis, enter information
• Continue to proceed

If you have made any nondeductible contributions to your traditional IRA, you do not pay taxes on the entire conversion amount.  Those nondeductible amounts are so-called the basis.  It is important to keep track how the basis amount is accumulated and calculated. For more information for the nondeductible IRA contributions, click here: Form 8606

@utterbob

[utterbob]

I have been using the desktop version of TurboTax Premier for several years. After the initial setup to determine the basis, Turbo Tax has always imported the basis calculated the previous year for the next year.

I followed the suggested step but never get asked Any Nondeductible Contributions to Taxpayer's IRA? after e

[Hal_Al]

The  total value of my IRA does not come immediately after the 1099-R screens.  It will come up a few screens later.

[utterbob]

I was asked Any Nondeductible Contributions to Taxpayer's IRA? when using 'Walk me through everything' and not when using 'I'll choose what to work on'