IRA basis not accumulating each year
I've been using Turbo Tax to do my taxes for my entire adult life. Between 2014 and 2020, I contributed the max to my traditional IRA each year. In all of these years except 2018, my income exceeded the limit, so I could not deduct the contributions.
When I look back at all my tax returns, the Form 8606 is always there (except for 2018), but for some reason my basis on line 2 is always $0. It was $0 in 2014 which is correct, but then for 2015, shouldn't my basis had been $5500 based on the 2014 nondeductible contribution? All the way out to 2020, it still shows a basis of $0 on line 2 of my Form 8606, when I believe it should say $34,000 based on the 6 years of nondeductible contributions.
Have I been entering something wrong all these years? It looks like the way to fix it is just to enter my basis when I do my 2023 taxes, with an explanation.
If anyone understands why this is happening, please let me know!
