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March 8, 2025
Question

form 8606 does not enter my total IRA value

  • March 8, 2025
  • 1 reply
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    March 8, 2025

    Please make sure that the IRA/SEP/SIMPLE box was checked on your Form 1099-R entry. 

     

    To confirm, you clicked continue after you entered all Form 1099-Rs and entered the value when TurboTax asked about he value of all of your traditional/SEP/SIMPLE IRAs on December 31, 2024?

     

    Do you have a star next to line 13? If yes, then TurboTax is using the Taxable IRA Distribution worksheet to calculate the nontaxable portion and lines 6 through 12 will be blank  (IRS).

     

     

    1. Click on "Search" on the top right and type “1099-R”  
    2. Click on “Jump to 1099-R”
    3. Click "Continue" and enter the information from your 1099-R
    4. On the "Review your 1099-R info" screen click "Continue"
    5. Answer "Yes" to "Any nondeductible Contributions to your IRA?" if you had any nondeductible contributions in prior years.
    6. Answer the questions about the basis from line 14 of your 2023 Form 8606 and the value of all traditional, SEP, and SIMPLE IRAs
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