I've been using Turbo tax online for many years. I filed my tax using turbo tax last year as well. I've been tracking 8606.
Now I am doing 2024 tax. Turbo tax transferred 8606 basis amount from 2023 which is different from what was reported last year. I am literately looking at the form 8606 of last year that Turbo tax generated...
Any advice?
If line 2 of your 2024 Form 8606 is different from line 14 of your 2023 Form 8606 and you have entered no adjustments to basis by clicking the EasyGuide button that is provided for entering such adjustments, this seems to suggest that either the 2023 tax file that you transferred in is not the same one that you used to print the 2023 Form 8606 you are looking at or you somehow modified the value in 2024 TurboTax after you transferred in the 2023 tax file. Note that TurboTax will silently delete your basis if, when asked, you inadvertently indicate that you have no such basis.
The transfer from 2023 to 2024 is actually done on the IRA Information Worksheet and TurboTax populates From 8606 from the values on that worksheet. Examine this worksheet in both your 2023 and 2024 tax files.
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