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IRA Information Worksheet - nothing shows for Traditional IRA Basis. Is that OK?

I don't believe that we have any basis in nondeductible traditional IRA contributions. In other words, all traditional IRA contributions spouse & I have made over the years have been deductible. Right now the TurboTax IRA Information Worksheet looks like this:

Part I Traditional IRA section --  shows no amounts for taxpayer and spouse

Part II Roth IRA --  has the proper amounts. (I recently updated according to advice from danab27 on how to do so since I hadn't distinguished Roth conversions from Traditional withdrawals one year. https://ttlc.intuit.com/community/taxes/discussion/re-ira-information-worksheet-i-didn-t-enter-roth-...)

Part III Traditional IRA Basis Detail --  shows no amounts.

Part IV Traditional IRA Year-end Value Detail --  shows no amounts.

Part V Roth IRA Contribution and Conversion Balances --  shows proper amounts.

Part VI Roth IRA Basis Adjustments -- shows no amounts.

In an external spreadsheet I have painstakingly documented all Traditional contributions and all Roth contributions and conversions.  I am satisfied that The TurboTax IRA Information Worksheet, at this point, now has the accurate Roth amounts listed. Nothing is listed for Traditional Basis. Therefore I believe all of our IRA information is correctly documented, since all Traditional IRA contributions have been deductible.  Does that sound correct?

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1 Reply
dmertz
Level 15

IRA Information Worksheet - nothing shows for Traditional IRA Basis. Is that OK?

Sounds correct.

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